Novo Nordisk (NVO) Gets Downgraded to Neutral from Buy at UBS

Novo Nordisk A/S (NYSE:NVO) is one of the top NYSE stocks with the highest upside potential. On August 5, UBS downgraded Novo Nordisk A/S (NYSE:NVO) to Neutral from Buy, bringing the price target down to DKK 340 from DKK 600.

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

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

The firm told investors in a research note that it sees “challenging times” for Novo Nordisk A/S (NYSE:NVO), with its analysis showing that the US compounding of weight loss drugs is “here to stay.” UBS added that this brings an uncertain outlook for Novo Nordisk A/S’ (NYSE:NVO) Wegovy.

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.