Bernstein Remains Bullish on Novo Nordisk A/S (NVO)

Novo Nordisk A/S (NYSE:NVO) is one of the best undervalued stocks to buy under $50. Bernstein analyst Florent Cespedes reiterated his bullish outlook on Novo Nordisk A/S (NYSE:NVO) on November 4 and set a price target of DKK540.

Novo Nordisk A/S (NVO): "Canada's A Backdoor," Says Jim Cramer

The same day, Novo Nordisk A/S (NYSE:NVO) announced that it submitted an updated unsolicited proposal for the acquisition of Metsera, Inc, including its early and development-stage incretin and non-incretin analogue peptide programmes.

Management reported that the updated unsolicited proposal was declared “superior” by the board of directors of Matsera, and that the acquisition would provide Novo Nordisk A/S (NYSE:NVO) with the “opportunity to maximise the potential of Metsera’s complementary portfolio and capabilities”.

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