---
title: Novo Nordisk (NVO) — Wall Street analysts' targets, grades and estimates
canonical: https://sweetvaluelab.com/stocks/nvo/analysts
ticker: NVO
as_of: 2026-11-02
sector: Healthcare
---
# Novo Nordisk (NVO) — Wall Street analysts

3 firms published a price target for NVO in the last 90 days. Counting each firm once, at its latest, the median target is $40.00, level with the last close of $40.00 (Oct 30, 2026); the lowest is $40.00 and the highest $47.00.

These are the analysts' figures, quoted, not this site's. The site's own model value for NVO is on the valuation page: https://sweetvaluelab.com/stocks/nvo/valuation.

## At a glance

| Figure | Value |
| --- | ---: |
| Median target (each firm's latest, last 90 days) | $40.00 |
| Median target vs last close | 0% |
| Firms with a target, last 90 days | 3 |
| Lowest – highest target | $40.00 – $47.00 |
| Current grades of 6 firms: positive / neutral / negative | 0 / 5 / 1 |
| Upgrades / downgrades, last 12 months | 0 / 5 |
| Consensus revenue growth, next 3 fiscal years | +2% a year |

## Each firm's latest target (last 90 days)

Newest first. Change is against the same firm's previous target; the last two columns are the target against the close on the day it was published and against the last close.

| Date | Firm | Target | Previous | Change | Vs price then | Vs price now | Report |
| --- | --- | ---: | ---: | ---: | ---: | ---: | --- |
| 2026-10-12 | BMO Capital | $40.00 | $47.00 | −15% | +4% | 0% | https://thefly.com/ajax/news_get.php?id=4439860 |
| 2026-09-11 | Morgan Stanley | $40.00 | $42.00 | −5% | −9% | 0% | https://www.streetinsider.com/Analyst+Comments/Morgan+Stanley+Downgrades+Novo+Nordisk+%28NVO%29+to+Underweight/27050016.html |
| 2026-08-12 | Berenberg Bank | $47.00 | — | — | 0% | +18% | https://www.streetinsider.com/Analyst+Comments/Berenberg+Downgrades+Novo+Nordisk+%28NVO%29+to+Hold/26907839.html |

## Current grades (each firm's latest, last 12 months)

| As of | Firm | Grade |
| --- | --- | --- |
| 2026-10-12 | BMO Capital | “Market Perform” |
| 2026-09-11 | Morgan Stanley | “Underweight” |
| 2026-03-02 | Goldman Sachs | “Neutral” |
| 2026-02-24 | J.P. Morgan | “Neutral” |
| 2025-12-08 | Argus Research | “Hold” |
| 2025-11-24 | HSBC | “Hold” |

## Grade changes (last 24 months)

| Date | Firm | From | To | Action |
| --- | --- | --- | --- | --- |
| 2026-09-11 | Morgan Stanley | “Equal Weight” | “Underweight” | downgrade |
| 2026-03-02 | Goldman Sachs | “Buy” | “Neutral” | downgrade |
| 2026-02-24 | J.P. Morgan | “Overweight” | “Neutral” | downgrade |
| 2025-12-08 | Argus Research | “Buy” | “Hold” | downgrade |
| 2025-11-24 | HSBC | “Buy” | “Hold” | downgrade |
| 2025-10-02 | HSBC | “Hold” | “Buy” | upgrade |
| 2025-09-29 | Morgan Stanley | “Equal Weight” | “Underweight” | downgrade |
| 2025-09-17 | Berenberg | “Hold” | “Buy” | upgrade |
| 2025-08-05 | UBS | “Buy” | “Neutral” | downgrade |
| 2025-07-31 | HSBC | “Buy” | “Hold” | downgrade |
| 2025-07-30 | Barclays | “Overweight” | “Equal Weight” | downgrade |
| 2025-04-17 | BMO Capital | “Outperform” | “Market Perform” | downgrade |
| 2025-01-08 | UBS | “Sell” | “Buy” | upgrade |

47 older changes are listed on the page.

## Consensus estimates by fiscal year

A reported year shows the company's revenue and GAAP diluted EPS with the consensus beside it; a later year shows the consensus average and its range. The analysts' EPS usually leaves items such as stock compensation out, so reported and estimated EPS are not like for like.

| Fiscal year | Status | Revenue | YoY | EPS | YoY | Consensus revenue | Consensus EPS | Analysts |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| 2023 | reported | $232.3B | +31% | $18.62 | +52% | $226.8B (reported +2% vs it) | $18.11 | 3 |
| 2024 | reported | $290.4B | +25% | $22.63 | +22% | $286.1B (reported +1% vs it) | $22.58 | 13 |
| 2025 | reported | $309.1B | +6% | $23.03 | +2% | $308.0B (reported 0% vs it) | $23.54 | 14 |
| 2026 | estimate | $304.4B | −2% | $22.25 | −5% | $296.3B – $317.5B | $21.34 – $23.62 | 16 |
| 2027 | estimate | $309.6B | +2% | $22.10 | −1% | $304.4B – $317.5B | $20.42 – $23.27 | 15 |
| 2028 | estimate | $328.7B | +6% | $23.88 | +8% | $313.3B – $352.5B | $22.43 – $26.14 | 6 |
| 2029 | estimate | $355.0B | +8% | $26.77 | +12% | $338.5B – $380.8B | $25.15 – $29.30 | 10 |
| 2030 | estimate | $372.2B | +5% | $29.00 | +8% | $354.9B – $399.2B | $27.24 – $31.74 | 7 |

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Source: https://sweetvaluelab.com/stocks/nvo/analysts (SweetValueLab, free, no account). Targets, grades and estimates are the analysts' own, quoted from Financial Modeling Prep's analyst feeds; reported figures from the company's statements. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.