Zacks Investment Research Upgrades Novozymes A/S – (NVZMY) to “Buy”
Novozymes A/S – (NASDAQ:NVZMY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $48.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.70% from the company’s current price.
According to Zacks, “Novozymes A/S is primarily engaged in the development, production, and distribution of enzymes. Its business consists of two segments, enzyme business and bio business. The Company’s enzyme business segment offers detergent enzymes that are used in laundry and dishwashing, technical enzymes used in the transformation of starch into different kinds of sugars and have application in leather, textile, and forest product industries, food enzymes used in production of bread, wine, juice, beer, noodles, alcohol, and pasta and feed enzymes used in animal feed. Its bio business segment offers microorganisms that are used in industrial and municipal wastewater treatment, as well as in the cleaning of surfaces such as carpet, concrete, drain lines, and septic tanks in industrial and household applications. It also has application in the Biopharmaceutical ingredients used in pharmaceutical industry. Novozymes A/S is headquartered in Bagsvaerd, Denmark. “
Several other research analysts also recently commented on the company. Deutsche Bank AG began coverage on Novozymes A/S – in a report on Friday, October 7th. They set a “hold” rating on the stock. Berenberg Bank began coverage on Novozymes A/S – in a report on Tuesday, September 27th. They set a “sell” rating on the stock.
Novozymes A/S – (NASDAQ:NVZMY) opened at 42.59 on Friday. The stock has a market capitalization of $12.79 billion and a PE ratio of 29.78. The stock’s 50 day moving average price is $43.60 and its 200 day moving average price is $46.02. Novozymes A/S – has a 1-year low of $37.98 and a 1-year high of $49.55.
About Novozymes A/S –
Novozymes A/S is a Denmark-based biotechnology company engaged in the production and sale of industrial enzymes, microorganisms and biopharmaceutical ingredients. In June 2013, the Company restructured its sales areas within those segments. The Household Care (old Household Care Enzymes) area comprises cleaning solutions, laundry, dishwashing and microorganism sales for cleaning solutions.
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