Citi lowers Novo Nordisk price target to 296 DKK citing flat margins
Citi Research reduced its price target for Novo Nordisk to 296 Danish crowns from 310, keeping a neutral rating. The cut reflects the company's guidance for broadly stable margins through 2030, limiting margin growth. While Citi raised its 2026‑2027 adjusted operating profit forecasts by 2‑3% on higher Wegovy sales, it lowered profit forecasts for 2028‑2030 by 2‑4% and trimmed the expected EPS growth rate to 9% from 12%. The bank also lifted its peak Wegovy tablet sales forecast to $13 billion from $10 billion.
Why it matters
Citi's target reduction suggests a lower valuation for Novo Nordisk, which may pressure the stock price. The firm expects modest profit growth in the near term but slower growth thereafter, affecting investor expectations for earnings and cash flow.
Key facts
- 1Citi cut Novo Nordisk's price target to 296 DKK from 310 DKK. investing.com
- 2Citi kept a neutral rating on the stock. investing.com
- 3Citi lowered adjusted operating profit forecasts for 2028‑2030 by 2% to 4%. investing.com
- 4Citi raised adjusted operating profit forecasts for 2026‑2027 by 2% to 3%. investing.com
- 5Citi cut the expected EPS growth rate for 2027‑2030 to 9% from 12%. investing.com
- 6Citi increased Wegovy tablet peak sales forecast to $13 billion from $10 billion. marketscreener.com
Summary written by AlphAI from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.