Wall Street Pulls Back on Novo Nordisk and Jefferies While Talkspace Heads for Exit

5 hours ago 2

Joel South

Tue, March 10, 2026 astatine 9:23 AM CDT 9 min read

Novo Nordisk (NVO) chopped to Hold, $42 target, down 53.14% past year. Korn Ferry (KFY) people chopped to $75. Jefferies Financial Group (JEF) people chopped to $61, down 37.95% YTD. Talkspace (TALK) acquired astatine $5.25/share.
CagriSema delivered 23% value simplification versus Lilly’s 25.5%, failing non-inferiority portion Jefferies faces First Brands ineligible vulnerability and Korn Ferry sees compressed multiples.
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Four names are drafting expert attraction this week, with TD Cowen stepping backmost from Novo Nordisk A/S (NYSE:NVO), Truist trimming its people connected Korn Ferry (NYSE:KFY), Morgan Stanley adjusting expectations for Jefferies Financial Group Inc. (NYSE:JEF), and KeyBanc efficaciously closing the publication connected Talkspace Inc. (NASDAQ:TALK) pursuing its acquisition announcement. The moves bespeak a premix of pipeline disappointment, valuation compression, and deal-driven resolution.

Ticker

Company Name

Firm

Old → New Rating

New Price Target

Implied Upside vs. Current Price

One-Line Takeaway

NVO	Novo Nordisk A/S	TD Cowen	Buy → Hold	$42	~6% supra $39.78	CagriSema disappointment and pricing headwinds unreality the maturation story
KFY	Korn Ferry	Truist	Buy (target cut)	$75	~20% supra $62.63	Target reduced connected little manufacture multiples; enforcement hunt request remains resilient
JEF	Jefferies Financial Group	Morgan Stanley	Overweight → Equal Weight	$49	~28% supra $38.42	Pre-earnings caution; advisory softness expected contempt coagulated underwriting
TALK	Talkspace	KeyBanc	Buy → Sector Weight	N/A	Deal terms $5.25 vs. $5.12	Acquisition by UHS astatine $5.25/share removes upside and downside hazard alike

Novo Nordisk: TD Cowen downgraded Novo Nordisk to Hold from Buy and chopped its terms people to $42 from $45. The rationale centers connected a clump of concerns that person been gathering for weeks: ongoing questions astir the Wegovy pill, underwhelming CagriSema objective data, lagging Ozempic prescriptions, and further caution flagged astatine a caller healthcare conference. The CagriSema results were the sharpest stroke -- the cause delivered 23% mean assemblage value simplification successful an 84-week trial, falling abbreviated of Eli Lilly's tirzepatide astatine 25.5% and failing to beryllium non-inferiority. Goldman Sachs had already moved to Neutral successful aboriginal March with a $41 target, and Deutsche Bank downgraded to Hold successful precocious February arsenic well. TD Cowen's enactment adds to a increasing chorus of caution.

Korn Ferry: Truist kept its Buy standing connected Korn Ferry but chopped the terms people to $75 from $88, citing little manufacture multiples. The underlying concern is holding up: enforcement hunt request grew 11% connected a constant-currency basis, and the conception remains much resilient than different quality superior absorption areas. The people simplification is simply a valuation recalibration alternatively than a cardinal concern.

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