BMO Capital analyst Evan Seigerman raised the firm’s price target on Novo Nordisk (NVO) to $55 from $50 and keeps a Market Perform rating on the shares ahead of its Q3 results. In Wegovy, the CVS Caremark exclusive deal tailwind continues to be offset by ongoing issues with compounded semaglutide, with numbers plateauing mid-to-late July, the analyst tells investors in a research note. BMO adds that diabetes is a more mature market for the company, with the divergence between Ozempic and Eli Lilly’s (LLY) Mounjaro in the U.S. likely to remain.
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