Barclays Maintains an 'Equalweight' on Teva Pharma (TEVA); Adjusting Estimates After Business Update

May 25, 2012 1:21 PM EDT
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Barclays maintains an 'Equalweight' on Teva Pharma (NASDAQ: TEVA) price target of $42.00.

Analyst, Douglas D. Tsao, said, "We are lowering our FY12 EPS estimate to $5.33 (from $5.57) after the company lowered guidance yesterday morning as part of a business update provided by newly-minted CEO Jeremy Levin. The timing was a bit of a surprise, but the takedown in expectations was largely anticipated after TEVA's 1Q showed softness. Management lowered its '12 EPS range to $5.30-$5.40 (cons $5.59) versus the previous $5.48-$5.68 (consensus at $5.59), with '12 revenues declining to $20Bn-$21bn versus previous $22bn."

For an analyst ratings summary and ratings history on Teva Pharma click here. For more ratings news on Teva Pharma click here.

Shares of Teva Pharma closed at $38.69 yesterday.

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