** Berenberg raises its Novo Nordisk NOVOb.CO target price to DKK 325 from DKK 300, saying guidance could be lifted and growth accelerate in the years ahead

** Shares rise as much as 4.9%, among the leading gainers on the European STOXX 600 index .STOXX

** "We see a scenario where FY26 guidance can be raised further, if both Wegovy pill and injectable deliver volume growth in H2," it says, sticking to its "buy" recommendation

** "Supplemented by the launch of CagriSema, we anticipate a return to sales growth in 2027 (+3%), growing to +6% 2028-2030," the broker adds

** Berenberg's 2026 Wegovy pill sales forecasts of about DKK 18 billion are ahead of the DKK 11 billion consensus

** At 13.2 times 2027 expected earnings, Novo trades at a 4% discount to global peer average, it says

** The broker flags potential catalysts in H2 including U.S. approvals for CagriSema and mim8, as well as Phase III data for ziltivekimab and efruxifermin

** ABG Sundal Collier analyst Morten Larsen sees a U.S. FDA crackdown on telehealth firms adding to pressure on compounders

** Of 33 brokers covering Novo, nine rate it "buy" or "strong buy", 22 "hold" and two "sell" or "strong sell"