Novo Nordisk: Stifel lowers TP
(CercleFinance.com) - Stifel maintains its Buy rating on Novo Nordisk shares, with a target price reduced from 965 DKK to 955 DKK.
The analyst points out that Novo Nordisk's Q2 results led to a sharp fall in the share price, due to the disappointing performance of Ozempic and Wegovy.
Management has also failed to address concerns about net realised prices and average treatment times in the obesity market.
Nevertheless, while the dynamics are less favourable, the figures are unlikely to change significantly, in which case the PEG ratio of 1.7x makes the share attractive again, the broker concludes.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The analyst points out that Novo Nordisk's Q2 results led to a sharp fall in the share price, due to the disappointing performance of Ozempic and Wegovy.
Management has also failed to address concerns about net realised prices and average treatment times in the obesity market.
Nevertheless, while the dynamics are less favourable, the figures are unlikely to change significantly, in which case the PEG ratio of 1.7x makes the share attractive again, the broker concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.