BMO cuts target for Novo Nordisk stock to USD 40.00

Published on 10/14/2026 at 13:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BMO cut its target from USD 47.00 to USD 40.00 on October 12, 2026. Novo Nordisk stock costs EUR 33.90 on October 14, 2026 ahead of November 4 results.

Analyst caution meets upcoming results

BMO Capital cut its target from USD 47.00 to USD 40.00 on October 12, 2026.
Novo Nordisk will announce its first three quarters results on November 4, 2026.
Novo Nordisk stock trades at EUR 33.90 at 1:12 p.m. CEST at Lang & Schwarz on October 14, 2026.

Bauhaus-Poster mit stilisierten Hormon-Molekülen in Blau, Weiß und Grau — Novo Nordisk A/S (DK0062498333): stilisierte Hormon-Moleküle als Bauhaus-Poster in Blau, Weiß und Grau auf Schwarz, Illustration mit AI erstellt.

Novo Nordisk (DK0062498333) stock was trading at EUR 33.90 at Lang & Schwarz on October 14, 2026 at 1:12 p.m. CEST. Markets Insider reported on October 12, 2026 that BMO Capital lowered its price target from USD 47.00 to USD 40.00 while retaining a Market Perform rating.

Target cut highlights pressure

The BMO view centers on the comparison ahead of Novo Nordisk's third-quarter report. Its note said Wegovy HD injectable uptake was not fully reflected in market expectations, while growth for the Wegovy pill was already more fully considered.

Yahoo Finance reported on October 9, 2026 that Citi cut its target from DKK 310.00 to DKK 296.00 and kept a Neutral rating. Citi also reduced its expected annual earnings-per-share growth for 2027 through 2030 from 12 percent to 9 percent.

What does the target cut change?

The answer is the balance between oral-product growth and profitability. Citi raised its adjusted operating profit forecasts for 2026 and 2027 by 2 percent to 3 percent, but lowered its forecasts for 2028 through 2030 by 2 percent to 4 percent, according to the October 9, 2026 report.

Three dated steps for the stock

On September 21, 2026, Novo Nordisk held its Capital Markets Day in London. On October 9, 2026, Citi cut its target from DKK 310.00 to DKK 296.00. On October 12, 2026, BMO cut its target from USD 47.00 to USD 40.00.

Next date is November 4

Novo Nordisk will announce its financial results for the first three quarters of 2026 on November 4, 2026, at 7:30 a.m. CEST. The report will give investors a new test of Wegovy pill demand, injectable pricing and operating leverage.

Price remains the immediate reference

Novo Nordisk stock was trading at EUR 33.90 at Lang & Schwarz on October 14, 2026 at 1:12 p.m. CEST. The market focus is therefore split between the upcoming results date and the lower valuation assumptions embedded in the two recent target cuts. The further course of trading is shown by the continuously updated real-time quote of Novo Nordisk stock.