Novo Nordisk's Conservative Guidance Leaves Room for Further Upgrades
Dow Jones
Aug 06
0841 GMT - Novo Nordisk upgraded full-year guidance as second-quarter results beat expectations, aided by the continued strong uptake for the Wegovy weight-loss pill, AlphaValue analyst Abhishek Raval writes. However, the extent of the upgrade disappointed investors, as it implies an 8% constant currency sales decline in the second half of the year. "We consider this revised guidance as overly conservative and see a possibility of a further upward revision." AlphaValue says it reiterates its buy rating on the stock as the company could reclaim its obesity market leadership via the Wegovy pill. Shares rise 0.9%.
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