Best ETF Areas of Last Week
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
Wall Street Performance:
- S&P 500, Dow Jones, and Nasdaq Composite all saw gains last week due to easing inflation, soft manufacturing data, and a tech rally.
- Treasury yields declined, boosting the market rally, with technology stocks seeing significant inflows.
US Economy:
- The US economy added 272,000 jobs in May 2024, the highest in five months, surpassing forecasts and previous monthly gains.
Winning ETF Areas:
- Bitcoin Miners ETFs surged, reflecting confidence in potential Fed rate cuts.
- Natural Gas ETFs rose as natural gas maintains a critical role in U.S. electricity generation.
- Semiconductor ETFs performed well, driven by NVIDIA's growth in AI chips for data centers.
Weight-Loss Drugs:
- Weight loss drug manufacturers' shares increased, with expectations of a growing market due to rising obesity rates.
- Intense competition exists among companies producing GLP-1 medicines, seen as revolutionary in the pharmaceutical industry.
Analyst Views on NVO
Wall Street analysts forecast NVO stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVO is 54.67 USD with a low forecast of 42.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
4 Buy
3 Hold
1 Sell
Moderate Buy
Current: 59.320
Low
42.00
Averages
54.67
High
70.00
Current: 59.320
Low
42.00
Averages
54.67
High
70.00
About NVO
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company's diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs. The Company's biopharmaceuticals segment covers the therapy areas of hemophilia care, growth hormone therapy and hormone replacement therapy. The Company also offers Saxenda product to treat obesity. It offers a range of products, including NovoLog/NovoRapid; NovoLog Mix/NovoMix; Prandin/NovoNorm; NovoSeven; Norditropin, and Vagifem. As of December 31, 2016, it marketed its products in over 180 countries. Its regional structure consists of two commercial units: North America and International Operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
