Citi cuts target for Novo Nordisk stock to DKK 296.00
Published on 10/12/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Citi cut its Novo Nordisk target from DKK 310.00 to DKK 296.00 and kept a Neutral rating on October 9, 2026.
- Novo Nordisk reported adjusted second-quarter 2026 sales of DKK 78,488 million, up 7.00 percent at constant exchange rates.
- The stock was trading at EUR 34.39 at Lang & Schwarz on October 12, 2026, versus the EUR 34.40 Xetra close of October 9, 2026.
- Novo Nordisk presented ambitions for more than five multi-blockbusters by 2030 and more than 60 million patients globally.
Novo Nordisk (ISIN DK0062498333) was trading at EUR 34.39 at Lang & Schwarz on October 12, 2026, just EUR 0.01 below the Xetra close of October 9, 2026. Citi cut its target from DKK 310.00 to DKK 296.00 and kept a Neutral rating in a note dated October 9, 2026, as reported by Stock-World.
Strategy aims beyond semaglutide
Novo Nordisk presented its 2030 ambitions on September 21, 2026, including more than five multi-blockbuster launches, at least five Phase 3 programs in obesity and diabetes, and capacity to serve more than 60 million patients globally. The company also set a risk-adjusted pipeline-sales ambition above DKK 150 billion for 2035.
The strategy broadens the investment case beyond Ozempic and Wegovy, but the numerical targets are ambitions rather than financial guidance. That distinction matters because Citi's lower DKK 296.00 target points to a more cautious view of margin expansion through 2030.
Second-quarter figures remain substantial
In the second quarter of 2026, adjusted sales rose 7.00 percent at constant exchange rates to DKK 78,488 million, while adjusted operating profit increased 11.00 percent to DKK 33,389 million, according to Globenewswire on August 4, 2026. The figures exclude a DKK 6.3 billion non-recurring, non-cash impairment charge tied to pipeline assets.
For investors, the tension is visible in the combination of 7.00 percent adjusted sales growth and a full-year adjusted sales outlook of 0% to minus 6% at constant exchange rates. The same release said adjusted operating profit growth was expected in the same 0% to minus 6% range for 2026.
Three dated milestones and the next report
On August 4, 2026, Novo Nordisk reported DKK 78,488 million in adjusted second-quarter sales. On September 21, 2026, it set the pipeline ambition above DKK 150 billion for 2035. On October 12, 2026, the company was reported to be targeting more than five multi-blockbusters by 2030 and more than 60 million patients globally, according to Ground News.
When is the next report?
Novo Nordisk's next quarterly report is scheduled for November 4, 2026, with the date shown by TradingView. The event will test whether the company's pipeline ambitions can offset the cautious 2026 outlook.
Stock holds near the Xetra close
The Lang & Schwarz quote stood at EUR 34.39 on October 12, 2026 at 10:38 a.m. CEST, minus 0.03 percent versus the Xetra close of October 9, 2026 at EUR 34.40. The primary listing is Novo Nordisk's B share on Nasdaq Copenhagen, where the quotation currency is DKK.
The further course of trading is shown by the continuously updated real-time quote of Novo Nordisk stock.
Novo Nordisk stock facts
- Company: Novo Nordisk A/S
- ISIN: DK0062498333
- Ticker: NOVO B
- Primary exchange: Nasdaq Copenhagen
- Price Lang & Schwarz (as of October 12, 2026, 10:38 a.m. CEST): EUR 34.39
- Change versus Xetra close: minus 0.03 percent
- Xetra close (October 9, 2026): EUR 34.40
- Market capitalization: EUR 152.8 billion (as of October 12, 2026)
- 52-week range: EUR 30.04-54.87 (as of October 12, 2026)
- Sector / Industry: Health care / Pharmaceuticals
- Next earnings date: November 4, 2026
Market context: Market report Euro Stoxx 50.
