(CercleFinance.com) – Novo Nordisk lost almost 2% in Frankfurt, while Stifel confirmed its buy rating on the stock, accompanied by a slightly reduced price target, from 960 to 950 DKK.
The analyst reports that Novo Nordisk’s share price was very volatile yesterday, due to mixed quarterly results and a less clear near-term outlook.
‘We believe that yesterday’s events could give investors the impression that the investment case is becoming more complex,’ the analyst emphasizes.
Stifel reports that this is the first time in two years that it has not revised its figures upward after a quarterly report.
‘With the relatively binary results of the AdCom of Mim8 and icodec to come, we believe it is wise to recommend a certain diversification in the European pharmaceutical universe,’ concludes the broker.
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