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Stocks making the biggest moves premarket: Target, Lowe's, Boeing, Alibaba, J&J & more

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Target and Lowe's jump on better-than-expected earnings, while an analyst upgrades Canopy Growth.

— An analyst at Bank of America upgraded the Canadian cannabis company to "buy" from "neutral," noting the "worst looks over" for the beaten-down stock. Canopy's valuation at current levels is "more reasonable" and Wall Street's estimates are "achievable," the analyst said.

Canopy shares are down more than 40% this year.— Johnson & Johnson shares were initiated with an "overweight" rating by an analyst at Cantor Fitzgerald. The analyst said upward profit revisions to the company's pharmaceutical business along with "diminishing headlines" around talc and opioids risk should boost Johnson & Johnson shares.

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