Deutsche Bank Starts Teva Pharma (TEVA) at Buy
- Top 10 News for 5/23 - 5/27: Computer Sciences to Acquire Key Enterprise Asset; Bayer Makes Run at Monsanto; Twitter has 'Character' Change
- Wall Street puts finishing touch on best week since March
- Marketo (MKTO) Deal Talk to Force Microsoft's (MSFT) Big Wallet Into Action
- Thermo Fisher (TMO) to Acquire FEI Company (FEIC) in ~$4.2B Deal
- Valeant Pharma (VRX) Rejected Joint Takeda, TPG Takeover Approach - WSJ
Deutsche Bank initiated coverage on Teva Pharma (NYSE: TEVA) with a Buy rating and a price target of $63.00.
Analyst Gregg Gilbert said, "While the potential cliff for Copaxone looms and the generics business has not been without challenges, we like the combination of valuation, attractive dividend yield (similar to Big Pharma), and the potential for greater focus on strategic initiatives that increase shareholder value under new CEO Erez Vigodman. We see the recent hire of industry veteran Siggi Olafsson to run global generics and the simplification of the management structure as positive steps, and we sense that investors are skeptical about cost savings initiatives, the entire branded product pipeline, and Teva’s ability/desire to do deals."
Shares of Teva Pharma closed at $54.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Remains Sidelined on Ulta Salon (ULTA) - PT to $230
- Dollar General (DG): Raising PT - Jefferies
- Piper Jaffray Remains Bullish on Palo Alto Networks (PANW) Following 3Q - PT to $167
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesDeutsche Bank, Dividend
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!