Novo Nordisk, Coinbase, Carvana: Trending Tickers
Shares of Novo Nordisk (NVO) are trading lower after CEO Lars Fruergaard Jørgensen warns that weight loss drug prices could fall as more people seek treatment. The company, however, surpassed the "Magnificent 7" giant Tesla (TSLA) in market cap on Thursday.
Coinbase (COIN) stock is moving higher as the company received an upgrade from Goldman Sachs from Sell to Neutral, lifting its price target to $282 per share. The firm cites the company's commitment to consistent profitability and the jump in the price of bitcoin (BTC-USD).
Shares of Carvana (CVNA) are jumping as RBC upgraded the stock from Under Perform to Sector Perform, raising the price target from $45 to $90. The firm claims that investors underestimate the potential cash generation per car, a potential catalyst for the company.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Video Transcript
BRAD SMITH: Stocks are higher following February's mixed jobs report, showed some resilience in the headline number and some signs of softening in the revisions. Investors now weighing whether this labor market means the timing of rate cuts could be pushed out brought forward. We've got a lot of that debate continuing-- continuing to wait through.
SEANA SMITH: All right. Let's take a look at some of those individual trending tickers. First up, Novo Nordisk edging lower this morning, after the CEO saying that he expects prices for weight loss drugs to fall as more people start taking these medications. Still, Novo Nordisk expects to maintain pricing power when it comes to the next generation products. Now, this comes after the Danish pharmaceutical giant surpassed Tesla in market cap on Thursday.
BRAD SMITH: And Coinbase ticking higher after getting an upgrade from Goldman Sachs, to neutral from sell. The analysts cutting the recent jump in Coinbase stock, as well as the company's commitment to more consistent profitability. This comes as Bitcoin hits fresh highs this week.
SEANA SMITH: All right. And Carvana shares surging after RBC upgraded the stock to sector perform from underperform. Up just about 12% today. Now, the analysts saying that investors are underestimating potential cash generation per car. And they think that will be a catalyst for the stock here going forward.
