Novo Nordisk Stock Rises on Positive Analyst Outlook Amid Strong Sales Growth
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Novo Nordisk stock rose 3% on Monday after two analysts raised their price targets.
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The increases came from J.P. Morgan and Morgan Stanley analysts, citing strong sales growth.
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The hikes followed a previous target raise by Jefferies last week.
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Novo Nordisk sales grew 29% in the first 9 months of 2022.
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Growth was driven by the company's top-selling diabetes and obesity drugs, Ozempic and Wegovy.