TD Cowen Lowers PT on Novo Nordisk (NVO), Keeps a Buy

Novo Nordisk A/S (NYSE:NVO) is one of the Most Undervalued International Stocks According to Analysts. On August 19, TD Cowen analyst Michael Nedelcovych lowered the firm’s price target on Novo Nordisk A/S (NYSE:NVO) from $105 to $70, while keeping a Buy rating on the stock.

The analyst noted that their firm recently met with the company’s management, where they found that the current GLP-1 drug portfolio faces challenges. As a result, the management’s guidance now includes possible downside scenarios. Management also noted that they are not interested in competing through price cuts and instead are excited about the oral semaglutide for obesity. The firm believes that this new drug has strong potential, and the management expects this drug to provide better cash flow for the company.

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company focused on diabetes and obesity care. It develops and sells insulin, GLP-1 drugs, and other diabetes-related products.

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