• Citigroup further lowered the price target snap inc SNAP from $16 to $10. Citigroup analyst Ronald Josey also downgraded the stock to neutral from buy. Snap shares are down 7% in premarket trading at $9.31.
• Keyboard lowered Ambarella, Inc. AMBA Price target from $120 to $100. Keybanc analyst John Vinh maintained an overweight stance on the stock. Ambarella shares are down 8.2% in premarket trading at $77.60.
• Needham cut I-Mab IMAB Price target from $41 to $33. Needham analyst Gil Blum maintained a buy recommendation for the stock. I-Mab shares are up 0.3% to $6.00 in premarket trading.
• Downsizing of the Telsey Advisory Group American Eagle Outfitters, Inc. AEO Price target from $17 to $15. Telsey Advisory Group analyst Dana Telsey kept a market-perform rating on the stock. American Eagle shares rose 1.1% to close at $11.77 on Tuesday.
• RBC capital cut Chewy, Inc. CHWY Price target from $59 to $56. RBC Capital analyst Steven Shemesh kept an Outperform rating on the stock. Chewy is down 11.1% in premarket trading at $33.26.
• Barclays strengthened The Gap, Inc. Geographic Positioning System Price target from $6 to $9. Barclays analyst Adrienne Yih also upgraded the stock to equal weight from underweight. Gap shares are up 0.2% in premarket trading to $9.69.

Watch this: US stock futures mostly lower ahead of Fed spokesman; Crude Oil falls over 2%