Bryan Garnier - Novo Nordisk (novob) NOVO NORDISK: A balanced fourth quarter but a reasonably engaging guidance for 2019 | NEUTRAL | DKK350

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Bryan Garnier

Eric Lemarie

NOVO NORDISK: A balanced fourth quarter but a reasonably engaging guidance for 2019 | NEUTRAL | DKK350

NOVO NORDISK - NEUTRAL | DKK350(+15%)
A balanced fourth quarter but a reasonably engaging guidance for 2019

Q4 2018 was relatively balanced for the group
Core EPS was 4% below CS estimates in Q4
Guidance for 2019 is reassuring
Focus on oral semaglutide now

01/02/2019 3 EN

Underlying

Novo Nordisk

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Eric Lemarie

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Discontinuing Coverage Ahead of Stifel Integration

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Discontinuing Coverage

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NOVO NORDISK: A balanced fourth quarter but a reasonably engaging guidance for 2019 | NEUTRAL | DKK350

Novo - Upgrade to HOLD (PT DKK300, 8pgs)

Novo - Oversize Downgrade - PT Cut to DKK300 (SELL, TP DKK300 [350], 8pgs)

Novo - Mounjaro Efficacy Slowing GLP-1 Growth (SELL, TP DKK350, 11pgs)

Discontinuing Coverage Ahead of Stifel Integration

Discontinuing Coverage

Alfen: H1 2025 results, mid-term outlook lowered

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