(News Bulletin 247) – UBS confirms its advice to sell with a price target of 680 E after the update on its activity for the first quarter, an increase in its outlook for sales and operating profit for the year ongoing, at constant exchange rates (CER).
‘A strong first quarter allows Novo to significantly increase its guidance for the fiscal year. The implied growth for the rest of the year appears to assume a slight normalization,” UBS said.
For 2023, the Danish pharmaceutical laboratory is now aiming, still at CER, for growth of 24-30% for its sales and 28-34% for its operating profit, against target ranges of 13-19% in the two case previously.
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