Novo Nordisk: Oddo remains neutral after 'mixed' Q4
(CercleFinance.com) - On Wednesday an analyst at Oddo BHF confirmed his "neutral" rating on the Novo Nordisk share, after having noted a mixed Q4, and a cautious guidance for its 2020 margin.
The market should focus on the guidance for 2020, which it believes is cautious: the group forecasts sales growth of between +3% and +6%, while EBIT growth is expected between 1% and 5% at constant currencies, with a positive currency impact of +1%. The broker foresees that estimates will be reduced by 1.5% to 2%.
The analyst therefore confirms a target price of 366 Danish kronor, meanings downside potential of 12%.
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.
The market should focus on the guidance for 2020, which it believes is cautious: the group forecasts sales growth of between +3% and +6%, while EBIT growth is expected between 1% and 5% at constant currencies, with a positive currency impact of +1%. The broker foresees that estimates will be reduced by 1.5% to 2%.
The analyst therefore confirms a target price of 366 Danish kronor, meanings downside potential of 12%.
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.