BMO Lifts Novo Nordisk Price Target, Forecasts Amid Upgraded FY26 Guidance

07:49 AM EDT, 08/06/2026 (MT Newswires) -- BMO Capital Markets adjusted its price target and forecasts for Novo Nordisk (NOVO-B.CO) amid model changes following the Danish drugmaker's second-quarter results and upgraded 2026 guidance. The price target on the New York-listed stock was increased to $47 from $45, with a market perform rating. The research firm also raised its EPS estimates for 2026 and 2027 to 23.26 Danish kroner and 16.88 kroner, respectively, from 19.43 kroner and 16.58 kroner. The revenue projections for both years were increased as well. "US Wegovy Pill scrips have been strong, but still short of consensus this quarter (-2%). While Novo raised guidance (as expected), the pipeline and path to sustainable growth remain less clear. As pricing in the obesity market faces continuous headwinds, a clear strategy underpinned by franchise diversity is critical for multiple inflection," analysts said. "We look to the upcoming Capital Markets Day in September for clarity on management's plan for the next chapter of the Novo story."