Argus lowered the firm’s price target on Novo Nordisk (NVO) to $90 from $110 but keeps a Buy rating on the shares. The firm cites the management’s expectations that the company will continue its strong record of growth in 2025, projecting constant-currency sales growth of 13%-21%, mainly driven by volume growth of GLP-1-based treatments for obesity and diabetes care, and operating profit growth of 16%-24%. Argus adds that on the fundamentals, the shares trade at 18-times its 2025 EPS estimate, which is well below the stock’s five-year historical average.
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