DNB Markets upgraded Novozymes to Buy from Hold with an unchanged price target of DKK 350. While the share price has suffered from merger limbo and destocking across the peer group, Novozymes should maintain its 2023 guidance with its Q3 report, the analyst tells investors in a research note. For the pending merger with Chr. Hansen, the firm is confident in the 2025 organic growth and EBIT margin targets.
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