BMO Capital: 'Novo Nordisk (NVO) Takes a Step in the Right Direction'

BMO Capital analyst Evan Seigerman reiterated a Market Perform rating and $50.00 price target on Novo Nordisk (NYSE: NVO).

The analyst commented: "Novo Takes a Step in the Right Direction w/ Wegovy Label Expansion; Step in the right direction for Novo as Wegovy gain's approval for the treatment of F2 & F3 MASH patients (updated product label here). Approval in MASH could start to help shift the momentum for Novo following a more difficult start to the year for the name as competition from compounders and a series of guidance cuts weighed on shares. We continue to view the Novo story as a show-me story into the back half of the year but expect shares to trade up at open on Monday."

For an analyst ratings summary and ratings history on Novo Nordisk click here. For more ratings news on Novo Nordisk click here.

Shares of Novo Nordisk closed at $52.41 yesterday.

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