Novo Nordisk initiated with a Buy at Goldman Sachs

Goldman Sachs analyst James Quigley initiated coverage of Novo Nordisk with a Buy rating and $156 price target. The analyst expects the obesity medication market to reach $130B by 2030, with Novo maintaining leadership driven by its “significant head start,” brand recognition and the cardiovascular benefit demonstrated for Wegovy in the SELECT trial. Furthermore, Novo’s significant investments in manufacturing capacity and sales infrastructure add to its competitive edge, the analyst tells investors in a research note.