BUZZ-Novo Nordisk rises after Q1 profit beat despite outlook cut

Reuters
05-07
BUZZ-Novo Nordisk rises after Q1 profit beat despite outlook cut

Updates at market open, adds further analyst comment in 4-5 bullets

** Shares in Novo Nordisk NOVOb.CO rise 3% after the Danish drugmaker posted a quarterly operating profit above estimates

** Novo books EBIT of 38.79 billion Danish crowns ($5.91 billion) for Q1, 4% above consensus expectations

** It now expects its sales in 2025 to grow 13%-21%, against the 16%-24% growth it saw in in February

** J.P.Morgan says the outlook cut was largely anticipated by the market

** Any weakness today is a buying opportunity ahead of the potential for improving Wegovy growth, JPM says

** Jefferies analysts say the outlook cut is likely around 1-2 pp more than expected

** Stock down around 29% YTD as of Tuesday's close

($1 = 6.5648 Danish crowns)

(Reporting by Boleslaw Lasocki)

((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))

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