(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on Novo Nordisk and raises its price target from 1,050 to 1,210 Danish kroner, adjusting its estimates upwards the day after the pharmaceutical company raised its annual targets .
The research department believes that the results for the first quarter ‘should come to confirm the momentum announced yesterday’, adding that a point will be made by the management on this occasion on Wegovy’s ambitions in the short and long terms.
Following the update of its figures, Oddo notes that the PE 2024 comes out at 30 times (i.e. a premium of 130% compared to the sector median) for henceforth a PEG 2022/26 of 1.4 times against 1.6 times for the sector.
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