Kepler Cheuvreux has initiated coverage of Danish pharmaceutical company Lundbeck and issued a buy recommendation with a target price of DKK 60. The bank sees two clear commercial value drivers in the short to medium term: Vyepti and Rexulti.

"We see Lundbeck as attractively valued relative to its competitors. Our forecast for 2026 shows a valuation discount of 29 percent for EV/EBITDA compared to the sector average," the bank writes.

The share rose 5 percent on Friday to DKK 37.74.