Organon downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Chris Schott downgraded Organon to Underweight from Neutral with a price target of $20, up from $18. The stock has rallied significantly over the last several months and is up 60% year-to-date, the analyst tells investors in a research note. The firm says that while Organon’s valuation remains inexpensive on an absolute basis, it sees better risk/reward elsewhere in specialty pharma group following the recent move.