Berenberg Upgrades Novo Nordisk (NVO) Amid Renewed Growth Outlook

Novo Nordisk A/S (NYSE:NVO) is one of the best beginner stocks to buy, according to analysts. On September 17, Berenberg upgraded Novo Nordisk from ‘Hold’ to ‘Buy’, and revised its price target to DKK425.00, signaling a potential 20% upside.

The move comes after a series of guidance downgrades that followed the company’s mid-2024 share price peak, prompting a reset in market expectations. Berenberg believes this shift opens the door for a more constructive discussion around Novo Nordisk’s growth prospects, valuation, and strategic catalysts, particularly in the diabetes and obesity treatment space.

The research firm also announced a change in its sector preference, favoring Novo Nordisk over competitor Eli Lilly. It emphasized that Novo is now positioned for renewed momentum, especially under the leadership of its new CEO. While challenges remain, Berenberg sees room for positive surprises and strategic wins that could further strengthen the company’s standing in the obesity drug market.

Novo Nordisk A/S (NYSE:NVO) is a healthcare company that develops and delivers innovative medicines and delivery systems for serious chronic diseases, primarily diabetes, obesity, and rare blood and endocrine disorders.

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