As previously reported, Bernstein upgraded Novo Nordisk (NVO) to Market Perform from Underperform with a price target of DKK 600, up from DKK 560. The stock’s valuation has turned “more compelling” after a 40% decline from all-time highs in June 2024 due to several pipeline setbacks, but the firm still sees a strong opportunity in obesity – with only 1m patients treated in the U.S. – driving the company’s low-teens earnings growth, the analyst tells investors in a research note.
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