MedWatch

Morgan Stanley raises Novo Nordisk stock rating to "overweight"

The US-based investment bank spies great obesity prospects in the near future, lifting both its rating and target price for Novo Nordisk stock.

Photo: Novo Nordisk / PR

Thursday, US-based investment bank Morgan Stanley changed its stock rating for Novo Nordisk from neutral ”equal weight” to ”overweight,” reports Bloomberg News based on the bank’s analysis.

Morgan Stanley believes Novo Nordisk trading will brighten up in the future due to the potential of one of the pharmaceutical firm’s obesity drugs, Wegovy (semaglutide), to become a blockbuster, a title earned when a treatment surpasses a USD 1bn revenue threshold.

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