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Novo Nordisk: BofA renews buy recommendation

(CercleFinance.com) - On Monday Bank of America renewed its buy recommendation on Novo Nordisk shares, along with its target price of 1,075 DKK, despite the stock having lost almost 40% of its value over the past six months.


The analyst points out that the Cagrisema developed by the Danish laboratory has only enabled weight loss of around 20%, a score in line with that of Eli Lilly's Zepbound (-21%) and therefore insufficient to ensure strong barriers to entry on the anti-obesity treatment market.

However, BofA points out that this performance is far higher than that of Wegovy (around -15%), and that the data are likely to be improved given that only 57% of participants were offered the maximum dose of the product.

For 2025, the broker expects the group to report sales growth of close to 25%, above consensus forecast of only 20%, which in its view could be a positive catalyst for the stock.

The professional notes, however, that investors' attention could be focused, for 2026, on the results of Eli Lilly's Phase III trial on retatrutide, which targets weight loss of at least 25%.


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