Credit Suisse analyst Dominic Lunn upgraded Novo Nordisk to Outperform from Neutral with a price target of DKK 1,250, up from DKK 920. The analyst says the Ozempic growth acceleration and Wegovy re-launch "has surprised." Growth in Novo’s total injectable sema franchise through Q1 has significantly outperformed prior expectations, the analyst tells investors in a research note. Novo continues to run direct-to-consumer campaigns in the U.S., which signals capacity is not yet an issue, adds the firm. It expects the magnitude of likely estimate upgrades driven by "visible" Q1 prescription trends to drive further share outperformance.
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