Novo Nordisk: Jefferies cuts TP

(CercleFinance.com) - Jefferies announced on Monday that it had lowered its target price for Novo Nordisk from 575 DKK to 515 DKK (cp: 620 DKK, -2.
8%), while maintaining its 'underperform' rating on the stock.

According to the US broker, analysts will have to lower their forecasts for CagriSema, the Danish group's new anti-obesity treatment, following the disappointing Phase III data published last month.

Due to these results, the broker is now only considering a commercial launch in 2027, while revising its annual sales forecast to $7.25bn, a far cry from the current consensus of over $16bn.

On the basis of these factors, Jefferies anticipates a difficult stock market performance, especially as the results expected by the end of the year in Alzheimer's disease present a certain level of risk, it argues.


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