Summary:
- BMO Capital Markets has revised Novo Nordisk (NVO, Financial) stock to "Market Perform".
- The price target is set at $64 due to rising competition in the obesity medication market.
- Significant upside potential predicted by analysts, suggesting a recovery opportunity for investors.
BMO Capital Markets has downgraded Novo Nordisk (NVO) to "Market Perform," lowering its price target to $64. This decision reflects Eli Lilly's advancement in the obesity drug sector, where its new therapies are gaining traction over Novo's semaglutide offerings. Novo's stock has dropped 34% this year.
Wall Street Analysts Forecast
According to forecasts from nine analysts over the next year, Novo Nordisk AS (NVO, Financial) is expected to reach an average price target of $103.04. The high estimate is projected at $159.63, while the low estimate sits at $63.85. This average projection indicates a potential 77.41% upside from its current trading price of $58.08. For more comprehensive data, visit the Novo Nordisk AS (NVO) Forecast page.
In addition, the consensus from 15 brokerage firms rates Novo Nordisk AS (NVO, Financial) at an average of 2.3, which corresponds to an "Outperform" recommendation. This evaluation is based on a scale where 1 represents a Strong Buy and 5 denotes a Sell.
Valuation Insights with GF Value
Per GuruFocus estimates, the projected GF Value for Novo Nordisk AS (NVO, Financial) over the next year stands at $157.93. This suggests a substantial upside potential of 171.92% from the current price of $58.08. The GF Value reflects GuruFocus's assessment of the intrinsic value at which the stock should ideally trade. This is calculated using historical trading multiples, past business growth, and future performance estimates. Further detailed data is accessible through the Novo Nordisk AS (NVO) Summary page.
