Viking Therapeutics receives Overweight rating and $80 target from JPMorgan

On September 11, JPMorgan analyst Hardik Parikh initiated coverage on Viking Therapeutics, assigning it an Overweight rating and setting a price target of $80 for December 2025. This target suggests a potential upside of 45% from the current price of $54.65. The announcement comes amid a challenging market environment, particularly for companies closely tied to the automotive sector, as highlighted by Jim Cramer's comments on Gentex Corporation. Cramer emphasized the need for several Federal Reserve rate cuts for a recovery in that sector. In the same context, Cramer praised Viking Holdings Ltd on CNBC's 'Mad Money Lightning Round,' indicating confidence in the company's future due to its promising prospects. He noted that Viking has 'many ships coming in,' suggesting a strong pipeline of opportunities ahead. This positive sentiment is reflected in the market, as Viking shares experienced a 5.8% increase, closing at $68.16 on Thursday. Additionally, the publication highlighted the performance of other companies, including Cadre Holdings, which reported better-than-expected earnings and sales figures. In contrast, Celsius Holdings faced scrutiny, with Cramer expressing concern over its performance and recent management changes. Overall, the market's reaction to Viking Therapeutics' rating and the broader commentary from Cramer indicates a cautiously optimistic outlook for the company, positioning it favorably against its peers in a fluctuating economic landscape.