(News Bulletin 247) – Credit Suisse raises its opinion of ‘neutral’ to ‘outperformance’ on Novo Nordisk with a price target raised from 920 to 1250 Danish crowns, in the wake of its estimates for the laboratory specializing in particular in diabetes.
The broker thus raises its EPS expectations for the 2023-28 period by 33% on average, to settle around 30% above the consensus for 2027, and considers that ‘the valuation is no longer demanding given the ‘extent of its recovery’.
“Sema injectable’s total franchise growth in the first quarter significantly exceeded our previous expectations, thanks to both the relaunch of Wegovy and the acceleration of growth at Ozempic,” notes Credit Suisse.
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