Novo Nordisk price target raised to DKK 1,150 from DKK 950 at Berenberg

Berenberg raised the firm’s price target on Novo Nordisk (NVO) to DKK 1,150 from DKK 950 and keeps a Hold rating on the shares. Novo Nordisk and Eli Lilly (LLY) have “banked the strongest share price performance” year-to-date and their valuation multiples retain a significant premium over peers, but this is “warranted” given the significant growth opportunity the obesity market promises for both companies, the analyst tells investors.