On Wednesday, Deutsche Bank (ETR:DBKGn) maintained a Buy rating on Novonesis A/S (NSISB:DC) while increasing the price target to DKK 470.00, up from the previous DKK 460.00. The adjustment comes ahead of the company's Capital Markets Day scheduled for June 18, 2024, in London.
The event, which will run from 1:00 PM to 5:30 PM UK time, is not expected to introduce new financial targets. Instead, the focus will be on educating attendees about the advantages of Novonesis's combined technology platform over those of legacy companies. Deutsche Bank anticipates that Novonesis will reaffirm its current targets, which include a compound annual growth rate (CAGR) of 6-8% in 2024/2025 and an EBITDA margin of 37% in 2025.
The bank also expects the company to outline the key elements that could drive further growth and enhance margins, such as synergies from past mergers, ongoing innovation, and new projects. While new mid-term targets are likely to be formally announced in 2025, the upcoming event will provide an opportunity for the financial community to engage with Novonesis's full management team.
The Capital Markets Day will serve as a platform for the company to showcase its business strategy and operational strengths, as well as to discuss future prospects with investors and analysts.
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