Novo Nordisk: positive results expected, Oddo neutral
(CercleFinance.com) - Novo Nordisk last night announced an upswing in its guidance for the year: the impact of the pandemic has been less severe than expected and in some markets, demand has improved.
Although the 3rd-quarter results are due to be announced at the end of the month, the group has already indicated that sales and operating profit will be up 7% at constant exchange rates.
Oddo estimates that guidance for 2020 should be up 2% for revenue and 3% for EBIT once exchange rate effects are taken into account. As a result, the analyst maintains its 'neutral' recommendation with a target price of 420 DKK.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.