10 Stocks Wall Street Is Calling Bullish Amid Market Turmoil

3. Novo Nordisk A/S (NYSE:NVO) 

Novo Nordisk A/S researches, develops, manufactures, and sells pharmaceutical products. The company operates through Rare Disease and Obesity & Diabetes care segments. Regardless of a 39% decline in the previous year, the stock has already started recovering and is now following an upward trend.

The company’s share price rebounded after Kepler Cheuvreux upgraded NVO citing its effective obesity/diabetes medications. The financial services firm raised its rating on the company from Hold to Buy with a target price of 630 Kroner. In recent months the company’s stock faced pressure due to concerns about its sky-high valuation and disappointing clinical trial results for its next-gen weight loss therapy. Kepler analyst David Evans uplifted investors’ confidence by stating this is the perfect entry point.

“After a few years of us thinking that market optimism on Novo was excessive, we now think the pendulum has swung too far the other way,”

According to 26 different analyst ratings, Novo has the highest target price of $168.39 which means it could more than double from the current levels if the optimistic scenario unfolds. A 38% dip in the stock price in just six months is the perfect opportunity to load up on the stock.