Novo Nordisk added to Analyst Focus List at JPMorgan

JPMorgan analyst Richard Vosser raised the firm’s price target on Novo Nordisk to DKK 1,100 from DKK 925 and keeps an Overweight rating on the shares. The anlayst also added the shares to the firm’s Analyst Focus List. He continues to see a "bifurcation" in European pharma company outlooks in 2023, both in terms of pipeline readouts and longer-term where "genericisations again need to be navigated." As such, he would avoid companies like GSK and Roche, seeing downside to 2023 consensus estimates and "potentially challenged" 2025-2030 outlooks. Vosser continues to favor companies "which have sustainably higher growth" and "far more" pipeline data points, new launches to drive estimate upgrades.