BMO starts Novo Nordisk US shares with "overweight', Street-high PT

Catalent

12/04/2024 13:03

** BMO Capital Markets starts Novo Nordisk's U.S.-listed
shares  NVO.N  with "outperform" and a Street-high PT of $163,
per LSEG data
    ** The Danish drugmaker' stock gains 1% to $126.66 after the
EU drug regulator found no evidence that a class of diabetes and
weight-loss drugs such as Novo's hugely popular Wegovy, are
linked to suicidal thoughts
    ** BMO says "Our in-depth analysis of the growing obesity
and adjacent metabolic disease market suggests both Lilly and
Novo will remain the two entrenched players in this duopoly"
    ** BMO raises Eli Lilly's  LLY.N  PT to $900
    ** Says Novo's expanded manufacturing with Catalent  CTLT.N 
allows it to continue to supply the capacity-constrained market
    ** Adds NVO's multiple in-development obesity assets have
strengthened its pipeline in a market the brokerage sees growing
to over $130 billion in the U.S.

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))