Wells Fargo analyst Lawrence Biegelsen upgraded Novocure to Overweight from Equal Weight with a price target of $90, up from $85. The stock's current valuation is attractive and appears to "deeply discount" the company's pipeline opportunities, Biegelsen tells investors in a research note. The stock has pulled back despite unchanged fundamentals, adds the analyst. Further, Biegelsen believes Novocure's Phase 3 pipeline is already "somewhat de-risked" and has a greater than 50% chance of success to offer significant long-term upside potential. Lastly, the company has very limited exposure to the coronavirus as patients with deadly cancers have few other options, says the analyst.