HSBC Reverses Stance, Issues Bullish Call on Novo Nordisk Shares

A dramatic shift in analyst sentiment has injected fresh momentum into Novo Nordisk’s stock this week, breaking a prolonged period of sideways trading. The catalyst was a significant upgrade from HSBC, potentially signaling the beginning of a comprehensive reassessment of the Danish pharmaceutical giant’s development pipeline and market strategy.

In a notable reversal, Rajesh Kumar of HSBC Global Research upgraded his rating on Novo Nordisk to “Buy,” accompanied by a substantial price target of 70 US dollars. This move represents a complete about-face from his late-July position, when he had downgraded the stock to “Hold.”

The analyst’s change of heart stems from Novo Nordisk’s enhanced strategic focus on reimbursable medical treatments and establishing... Read more...