Novonesis jumps on outlook hike fuelled by rising biosolutions demand

Novozymes A/S

18/06/2024 08:17

** Shares in Novonesis  NSISb.CO , formerly known as
Novozymes, jump around 5% after the Danish biotechnology group
raised its full-year outlook, expecting growing demand for its
biosolutions
    ** The company now estimates yearly organic growth of at the
upper end of the 5-7% range, while it hikes its EBITA margin
expectations to 35-35% against around 35% seen earlier
    ** "This presents a continued strong catalyst path for the
company," Jefferies says on the outlook hike
    ** "Upgraded FY24 outlook might drive 3-5% upgrades to FY24
adj EPS consensus", J.P.Morgan says
    ** Novonesis shares are up 13% year-to-date and are among
top risers on STOXX 600  .STOXX 

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))