BNP Paribas Exane Upgrades Novo Nordisk (NVO) to Neutral from Underperform

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.

An elderly couple receiving insulin from a pharmacist, representing healthcare company’s successful pharmaceutical products.

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.

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.