Check out the companies making headlines in midday trading. Chewy — Shares popped 7.8% after Jefferies initiated coverage of the pet e-commerce company with a buy rating and $27 price target, which suggests about 25% upside from Monday’s close. Jefferies said Chewy should benefit from increasing pet e-commerce penetration and premiumization of pet products. Affirm — Affirm’s stock jumped 15% after the company announced an expansion of its “buy now, pay later” partnership with Walmart to more than 4,500 of the retailer’s self-checkout kiosks. Nikola — Shares of the electric vehicle company rebounded on Tuesday, jumping 6.8% a day after the company’s founder Trevor Milton was sentenced to four years in prison for wire and securities fraud. The stock had fallen more than 9% Monday. Kenvue — Shares of consumer health company Kenvue, which was spun from Johnson & Johnson earlier this year, gained 3.5% a day after it received a favorable court ruling in a product liability case related to Tylenol. JPMorgan wrote in a Tuesday note that the ruling “effectively collapses the plaintiffs’ case,” and that shares would trade up and potentially re-rate after the ruling. Coinbase — Shares rose 2.6% after Compass Point reiterated a buy rating on the stock and substantially hiked its price target, saying that the rise in crypto prices should benefit the crypto exchange. …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. Chewy — Shares popped 7.8% after Jefferies initiated coverage of the pet e-commerce company with a buy rating and $27 price target, which suggests about 25% upside from Monday’s close. Jefferies said Chewy should benefit from increasing pet e-commerce penetration and premiumization of pet products. Affirm — Affirm’s stock jumped 15% after the company announced an expansion of its “buy now, pay later” partnership with Walmart to more than 4,500 of the retailer’s self-checkout kiosks. Nikola — Shares of the electric vehicle company rebounded on Tuesday, jumping 6.8% a day after the company’s founder Trevor Milton was sentenced to four years in prison for wire and securities fraud. The stock had fallen more than 9% Monday. Kenvue — Shares of consumer health company Kenvue, which was spun from Johnson & Johnson earlier this year, gained 3.5% a day after it received a favorable court ruling in a product liability case related to Tylenol. JPMorgan wrote in a Tuesday note that the ruling “effectively collapses the plaintiffs’ case,” and that shares would trade up and potentially re-rate after the ruling. Coinbase — Shares rose 2.6% after Compass Point reiterated a buy rating on the stock and substantially hiked its price target, saying that the rise in crypto prices should benefit the crypto exchange. …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
