Why Novo Nordisk Stock Flew Higher on Friday
Investors turned up the heat on one of the hotter pharmaceutical stocks on Friday. Novo Nordisk (NYSE: NVO) saw a more than 2% bump in share price on the day, on the back of a sprawling global bank's initiation of coverage. Strong indications of heavy demand didn't hurt either.
The company's stock did much better than the sluggish S 500 index, which slipped by 0.1%.
Well before market open, analyst Rajesh Kumar launched his coverage of Novo Nordisk stock. Mirroring the general prognosticator sentiment on the company just now, Kumar's recommendation is buy, with a price target of 1,250 Danish Kroner ($187.50) per share.
Source Fool.com
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