Novo Nordisk: Why I'm buying in the fire sale
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While almost all stocks were down at midday on Friday, Novo Nordisk remained stable. The stock had lost significantly in recent days, triggered by a forecast reduction for sales growth from 14–21% to 8–13%, followed by several analyst downgrades. However, the stock now appears to be bottoming out: the price range around €40 represents a technical support level that has attracted buyers on several occasions in the past. Fundamentally, the picture remains solid: the dividend yield is around 4% – with prospects for an increase in the coming...
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