Novo Nordisk: Banks tweak forecasts amid mixed bag set of results
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JP Morgan has lowered its price target for Novo Nordisk due to a delay in the launch of its obesity treatment, CagriSema, affecting sales and profit forecasts.
February 06, 2025 | 12:15 pm
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JP Morgan has reduced its price target for Novo Nordisk due to a delay in the launch of CagriSema, affecting sales and profit forecasts for 2027-2030.
The delay in CagriSema's launch from 2026 to early 2027 has led JP Morgan to lower its price target for Novo Nordisk. This delay is expected to reduce sales and operating profit forecasts by 2-3% for 2027-2030, negatively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100