Novo Nordisk price target lowered to $45 from $57 at BMO Capital

BMO Capital lowered the firm’s price target on Novo Nordisk (NVO) to $45 from $57 and keeps a Market Perform rating on the shares. The company reported challenging quarter and guided down sales, which underscores the very real headwinds facing its business, the analyst tells investors in a research note. Commentary on the Wegovy pill launch was directionally positive, as scripts continue to trend well, but this was not enough to meaningfully lift the outlook into the new year, BMO added.