Novo Nordisk (NVO) Gets Downgraded to Neutral from Buy at UBS

Novo Nordisk A/S (NYSE:NVO) is one of the top NYSE stocks with the highest upside potential. On August 5, UBS downgraded Novo Nordisk A/S (NYSE:NVO) to Neutral from Buy, bringing the price target down to DKK 340 from DKK 600.

The firm told investors in a research note that it sees “challenging times” for Novo Nordisk A/S (NYSE:NVO), with its analysis showing that the US compounding of weight loss drugs is “here to stay.” UBS added that this brings an uncertain outlook for Novo Nordisk A/S’ (NYSE:NVO) Wegovy.

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company specializing in diabetes care. It develops, discovers, manufactures, and markets pharmaceutical products.

Its operations are divided into two business segments: biopharmaceuticals and diabetes and obesity care. The latter segment covers GLP-1, insulin, and other protein-related products.

While we acknowledge the potential of NVO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.