(News Bulletin 247) – Stifel reiterates its ‘buy’ recommendation on Novo Nordisk with a price target raised from 950 to 1205 Danish kroner, in the wake of a 70% increase in its obesity sales assumptions for the pharmaceutical company .
The broker considers that in the short term the Novo Nordisk case is entirely based on the assessment of the size of the market for drugs prescribed for obesity and on the ability of the Danish group and its products to benefit from it.
This increase translates into average annual growth rates estimated at 13.5% for revenues and 18% for EPS by 2028. The resulting PEG of 1.5 is 0.2 points below the average of the European sample ‘, points Stifel.
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