Novo Nordisk Stock Falls After Major Rebrand

This article first appeared on GuruFocus. Novo Nordisk (NYSE:NVO) shares fell 2% on Tuesday even after the drugmaker introduced a new brand identity and updated its corporate culture, as an analyst said the changes may need to be supported by a broader strategy. BMO Capital analyst Evan Seigerman kept a Hold rating and a $47 price target on the shares. That target implies about 8% upside from current levels. Warning! GuruFocus has detected 4 Warning Sign with NVO. Is NVO fairly valued? Test your thesis with our free DCF calculator.NVO GF Value chart The company began using the name Novo in its branding and introduced The Novo Way, a culture centered on patients and consumers. Its legal corporate name remains Novo Nordisk A/S.