Novo Nordisk (NVO US) is the global leader in diabetes care and the dominant player in the fast-growing obesity-drug market through its well-known Ozempic/Wegovy names. We believe after the major re-rating on the downside is over and NVO is poised for a strong rally.
We missed out last night by just 8c, but are happy to buy the strength:
- We still see great risk/reward towards NVO below $US50.50 with initial stops at $US43.
There is no change to our existing positions:
- Long Sandfire Resources (SFR) at $15.20, with stops at $15.80, a profit stop.
- Long Domino’s Pizza (DMP) at $21.50, with stops at $19.90.
Trade Idea: Buy NOVO Nordisk ADR (NVO US) at $US50.50 with stops at $US43.
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