12 Cheap Stocks That Will Go to the Moon According to Reddit

1. Novo Nordisk A/S (NYSE:NVO)

Forward P/E: 13.24

Analyst Upside: 52.91%

Number of Hedge Fund Holders: 60

Novo Nordisk A/S (NYSE:NVO) is one of the top cheap stocks that will go to the moon according to Reddit. On August 13, BNP Paribas Exane upgraded Novo Nordisk A/S (NYSE:NVO) to Neutral from Underperform with a $54 price target.

The firm told investors that it sees a more balanced risk/reward now that the company’s “reality” is better reflected in the shares.

Novo Nordisk A/S (NYSE:NVO) announced results for the January 1 to June 30 period on August 6, reporting an operating profit growth of 25% in Danish kroner and 29% at constant exchange rates (CER) to DKK 72.2 billion.

Management also stated that sales in US Operations rose by 16% in Danish kroner (17% at CER), while sales in International Operations grew by 16% in Danish kroner (19% at CER).

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 to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVO and that has 100x upside potential, check out our report about this cheapest AI stock.

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