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Novo Nordisk: Jefferies downgrades to 'underperform'

(CercleFinance.com) - Today an analyst at Jefferies downgrades his rating on the Novo Nordisk share to "underperform".


"US oral sema approval is imminent but we envisage pricing nearer oral SGLT-2s, a significant discount to injectable GLP-1s... We hike oral sema sales above cons 2022+E given an encouraging proprietary US physician survey but assume a below-average gross margin," the broker says.

Jefferies confirms its target price of 300 kronor for the share.


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