Good morning and Happy New Year! We’re hitting the ground running this morning with a few big stock movers in the premarket.

Cloudflare (NET) is up over 6% before the bell on a double upgrade from Goldman Sachs to Buy from Sell, with a price target of $140. The analyst cites industry conversations suggesting A.I. is seeing more use cases and sees “several positive catalysts” for the company this year.

Synaptics (SYNA) announced a partnership with Google for Edge A.I., boosting the stock over 5% in the premarket. Synaptics’ Astra hardware would run Google’s machine learning core. SYNA had a rough year in 2024, falling around 30%, so this could herald a run of better luck.

Topgolf Callaway (MODG) saw an 8% leap on the back of a Jefferies upgrade to Buy from Hold. The analyst writes that the market is pricing MODG at a discount to Acushnet (GOLF), and says shares seem oversold despite its “weak” fundamentals.

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