Novo Nordisk Almost Fully Valued; New Investors Should Await Better Entry Point, Analyst Says

• (PLX AI) - Novo Nordisk is almost fully valued and new investors should wait for a better entry point, analysts at SEB said, cutting their recommendation on the stock to hold from buy.
• • However, SEB recommended existing shareholders not to sell their shares
• • Price target raised to DKK 650 from DKK 625; shares were up 1% at DKK 633.80 shortly after 12 noon CET
• • Novo's semaglutide franchise could reap as much as $23 billion in sales by 2030, but Novo is almost fully priced on these expectations, SEB said