In a report released yesterday, Evan Seigerman from BMO Capital maintained a Buy rating on Novo Nordisk (NVO – Research Report), with a price target of $105.00.
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Evan Seigerman has given his Buy rating due to a combination of factors that highlight Novo Nordisk’s strong position in the market. The company has demonstrated robust data for its existing products, particularly in the metabolic disease space, which underscores its deep expertise in this area. Additionally, the promising results from the STRIDE study, showing significant improvements in walking distance for PAD patients, suggest potential broader cardiovascular benefits from their GLP-1 treatments.
Furthermore, Novo Nordisk is well-positioned with next-generation assets like CagriSema, which are expected to enhance the profiles of current incretin therapies. The anticipation of positive secondary outcomes data could further bolster access and adoption of their products. Lastly, the company’s strong manufacturing capabilities provide a competitive edge, ensuring a stable supply chain and reinforcing its market leadership.