Novo Nordisk: share price falls, analyst adjusts target

(CercleFinance.com) - Novo Nordisk is down nearly 2% in Frankfurt, as Stifel has confirmed its buy rating on the stock, with a slightly reduced price target from DKK 960 to 950.


The analyst reports that Novo Nordisk's share price was very volatile yesterday, due to mixed quarterly results and a less clear short-term outlook.

' We think that yesterday's events could give investors the impression that the investment case is becoming more complex,' the analyst points out.

Stifel reports that this is the first time in two years that it has not revised its figures upwards after a quarterly report.

"With the relatively binary results of Mim8's AdCom and icodec still to come, we think it wise to recommend some diversification in the European pharmaceutical universe", concludes the broker.


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