Deutsche Bank Starts Teva Pharma (TEVA) at Buy
- OPEC Maintains Oil Production Target
- Unusual 11 Mid-Day Movers 11/28: (OPRN) (VRNG) (VGGL) Higher; (EXXI) (GDP) (LPI) Lower
- Oil Stocks Hammered as OPEC Maintains Production Target, Airlines Gain (XOM) (BP) (LUV) (HAL)
- Apple (AAPL) Weaker as iPhone Chip Orders Said to Be Slowing Down
- Thanksgiving Online Sales Up 20.1%, ChannelAdvisor Says (AMZN) (EBAY)
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
- UPDATE: Canaccord Genuity Downgrades 21Vianet (VNET) to Hold
- Cracker Barrel (CBRL) Numbers Raised at BofA/Merrill Lynch Amid Strong Q1
- Nomura Securities Downgrades National Bank of Greece (NBG) to Neutral
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!