Novo Nordisk: UBS cuts from 'buy' to 'hold'

(CercleFinance.com) - UBS has downgraded its rating on the Novo Nordisk share from "buy" to "neutral," citing the Danish drugmaker's "strong" third-quarter results and upgraded guidance.


According to the broker, it is now time to take a break after the share's recent performance, which has risen by 32% year-to-date.

UBS believes it is time to take a breather as the group is heading into the launch of its oral semaglutide drug (Rybelsus).

"Rybelsus will be a big drug but early trends will be hard to interpret," the broker warns in a note.

As a result, it has cut its target price for the share from 395 Danish kronor to 375 Danish kronor.

Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.