UPDATE: Cowen Starts Novo Nordisk (NVO) at Market Perform

May 4, 2020 4:51 AM EDT
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Price: $108.70 -0.31%

Rating Summary:
    9 Buy, 9 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
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(Updated - May 4, 2020 6:01 AM EDT)

(updating comment)

Cowen analyst Steven Scala initiates coverage on Novo Nordisk (NYSE: NVO) with a Market Perform rating and a price target of $72.00.

The analyst comments "Novo is a creative, well-managed company focused on a large and growing market with few competitors. But its strengths are not unrecognized; NVO sells at a rich PE multiple despite growth prospects that are just above industry average. Its outlook is keyed to two drugs, Ozempic and Rybelsus, and each will face new competitors over time. Pending visibility, we initiate with a Market Perform rating."

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 $63.43 yesterday.

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