Novo Nordisk: Stifel raises target price
(CercleFinance.com) - Stifel reiterates its "buy" rating on Novo Nordisk shares, having raised its target price for them from 950 DKK to 1,205 DKK, following a 70% increase in its obesity sales assumptions for the pharmaceutical company.
The broker considers that, in the near term, Novo Nordisk's case rests entirely on the assessment of the size of the market for obesity drugs and the ability of the Danish group and its products to exploit this.
The hike in its target price is thanks to estimated average annual growth rates of 13.5% for revenue and 18% for EPS by 2028. "The resulting PEG of 1.5 is 0.2 point below the average of the European sample", the broker says.
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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 broker considers that, in the near term, Novo Nordisk's case rests entirely on the assessment of the size of the market for obesity drugs and the ability of the Danish group and its products to exploit this.
The hike in its target price is thanks to estimated average annual growth rates of 13.5% for revenue and 18% for EPS by 2028. "The resulting PEG of 1.5 is 0.2 point below the average of the European sample", the broker says.
Copyright (c) 2023 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.