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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.

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