BMO Capital rating on Novo Nordisk

What happened: On May 7, 2026, BMO Capital analyst Ben Pham maintained an Outperform rating on TransAlta Corporation (TAC) but lowered the price target to C$25 from C$27. Meanwhile, Jim Cramer discussed Novo Nordisk A/S (NVO) on May 8, 2026, noting its 40% decline over the past year and 29.6% drop year-to-date. BMO Capital kept a Market Perform rating on NVO.

Market impact: The downgrade of TransAlta's price target may impact investors' sentiment towards the utility sector, potentially leading to valuation repricing. Cramer's comments on NVO could drive further selling pressure, affecting other pharmaceutical stocks, particularly those in the diabetes care space like Eli Lilly.

What to watch next: TransAlta's Q2 2026 earnings report on July 28, 2026, and any updates on its renewable energy projects. For NVO, watch its Q2 2026 earnings on August 3, 2026, and any developments related to its pipeline and pricing pressures. Additionally, monitor the U.S.-China trade negotiations, as any progress could impact NVO's international sales.