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Barclays Reiterates an 'Overweight' on Teva Pharmaceutical (TEVA); Stock Lull Creates Opportunity

October 26, 2010 3:43 PM EDT Send to a Friend
Get Alerts TEVA Hot Sheet
Price: $52.16 -0.48%

Rating Summary:
    16 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Barclays reiterates an 'Overweight' rating on Teva Pharmaceutical (Nasdaq: TEVA), price target $73.

Barclays analyst says, "After a rebound from what we viewed as oversold levels, recent "lull" in stock performance has created an attractive buying opportunity ahead of potential positive catalysts in the coming months, in our opinion. Reiterating our rating and continue to recommend purchase, particularly for long-term investors."

"We are introducing our pro-forma estimates to include Ratiopharm acquisition, with 3Q results representing the first quarter to include a contribution. We expect Teva to meet our and consensus 3Q proforma estimate of $1.27, with the July launch of Effexor XR adding $414M in revs by our estimate, based on IMS scrips trend and stocking est. May witness some 3Q Ratiopharm financial contrib. granularity, a positive & atypical for Teva following an acquisition close. Noteworthy pending potential catalysts: (1) oral laquinimod first P3 trial results in 1Q; (2) Copaxone low-vol version PDUFA date of Jan 1; (3) generic Lovenox approval (anytime)."

FY11 EPS estimate of $4.60 and FY12 increased from $4.86 to $5.25.

To see all the upgrades/downgrades on shares of TEVA, visit our Analyst Ratings page.

Shares are currently trading at $52.64, down $0.19 (-0.36%)




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