Cantor bullish on Novo Nordisk, sees it continuing to top expectations (NVO)

Cantor Fitzgerald has initiated protection of Novo Nordisk (NVO) with an obese score, stating that it sees the corporate persevering with to high Road expectations.

Cantor mentioned that Novo ought to proceed to carry on to its management place within the weight-loss drug market, even when extra opponents enter the sector as “NVO has far more information, established business infrastructure, and manufacturing capability, making it onerous for brand new gamers to catch up.”

The funding financial institution mentioned it disagreed with traders who noticed Eli Lilly (LLY) as lengthy and Novo Nordisk as brief trades. “We don’t suppose shorting NVO is the correct name as a result of its outsized progress is more likely to proceed to exceed Road expectations, particularly as manufacturing capability will increase,” it added.

Upcoming catalysts for the corporate embrace a possible label replace for Wegovy that features danger discount of main opposed cardiovascular occasions, optimistic research outcomes for the therapy of individuals with kind 2 diabetes and continual kidney illness, and pipeline developments for different weight problems drug candidates, in line with Cantor.

The funding financial institution set its value goal at $120.