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Barclays has reduced its Q1 2025 estimates for Novo Nordisk, citing lower-than-expected prescription volumes for Wegovy and Ozempic in the U.S. The bank anticipates sales and operating profit to fall 2% and 3% below Bloomberg consensus, projecting 19% constant-currency sales growth for the full year, below Novo's guidance range.Despite recent positive developments, including Wegovy's removal from the FDA's drug shortage list, prescription trends have remained flat. Analysts are cautious about potential guidance cuts depending on volume recovery in the latter part of the year, while Barclays maintains an Overweight rating and a DKK 900 price target, confident in the long-term prospects of the GLP-1 franchise.
Barclays has downgraded Novo Nordisk's Q1 forecast due to slower-than-expected growth in US prescriptions for its weight-loss drugs, Wegovy and Ozempic. Projected sales and operating profit are now about 2% and 3% below Bloomberg's consensus, respectively. Despite these challenges, Barclays maintains an overweight rating and a price target of 900 Danish kroner, reflecting confidence in Novo's long-term growth potential.
Barclays analyst George Wang has reiterated an Overweight rating on Jabil (NYSE: JBL) with a price target of $184, highlighting the company's underappreciated optical assets. Jabil, which acquired Intel's transceiver manufacturing assets, is positioned to grow its optical revenues from an estimated $300M-$400M to $1B in the coming years, driven by partnerships with major customers like Meta and AWS. The company is also exploring advancements in 800G and 1.6T transceivers, potentially positioning itself as a competitor in the market.
Barclays has expressed strong confidence in Sanofi, maintaining an 'overweight' rating and setting a price target of 125 euros, anticipating group net sales of 9.61 billion euros for Q1 2025. The optimism is fueled by Sanofi's direct-to-consumer campaign for Dupixent targeting COPD and upcoming product launches, which are expected to enhance market momentum. Sanofi's strategic vaccination approach and regulatory navigation further underscore its commitment to stable growth.
Barclays has reduced its Q1 2025 estimates for Novo Nordisk, citing lower-than-expected prescription volumes for Wegovy and Ozempic in the U.S. Sales and operating profit are now projected to be 2% and 3% below Bloomberg consensus, respectively. Despite positive developments, prescription trends remain flat, raising concerns about future volume recovery as the company intensifies efforts against unauthorized compounded semaglutide. Barclays maintains an Overweight rating and a DKK 900 price target, confident in the long-term prospects of the GLP-1 franchise.
Canada Goose (NYSE:GOOS) has received an "underweight" rating from Barclays, with a target price reduced to $8.00, indicating a potential downside. The stock currently has a consensus rating of "Hold" and a target price of $10.20, with recent trading around $8.23. Institutional investors hold 83.64% of the stock, reflecting significant interest despite mixed analyst ratings.
Barclays has initiated coverage of SouthState Corporation with an "Overweight" rating and a price target of $120. The financial services company, through its nationally chartered bank subsidiary, offers a wide range of consumer, commercial, mortgage, and wealth management solutions across several states, including Florida and Texas. Its services encompass various deposit accounts, loans, brokerage services, and asset management.
Barclays has initiated coverage of Astrana Health, Inc. with an equal weight rating and a price target of $36. The company specializes in care coordination services across the healthcare system, offering an integrated platform for operational, clinical, and strategic services, while also focusing on building provider networks for coordinated care delivery.
Barclays reports that European stocks are experiencing their strongest inflows since 2017, fueled by attractive valuations and increased regional spending. However, the bank cautions that anticipated tariff plans from Trump could reverse this momentum by raising growth concerns. Additionally, Barclays has settled with investors for $19.5 million over claims related to the over-issuance of securities.
Shojin has appointed Graham Rusling, a former Barclays executive with over 40 years of experience in credit risk, as a board member and advisor. His expertise will support the company's growth strategy. Additionally, Wayne Hiley, another Barclays veteran, joined Shojin's board in November 2024 to focus on loan origination for sustainable growth.
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