Mizuho Securities Downgrades Teva Pharma (TEVA) to Neutral
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Mizuho Securities downgraded Teva Pharma (NYSE: TEVA) from Outperform to Neutral with a price target of $45.00 (from $64.00), citing concerns over execution and a lack of catalysts.
Analyst Irina Koffler commented, "We downgrade TEVA to Neutral from Buy and lower our PT to $45 from $64. We missed earlier opportunities to downgrade as we awaited positive updates after the generics deal close, but that never materialized. Now TEVA faces a long integration period, headwinds from the Copaxone decision, and a dearth of meaningful catalysts. We are also concerned Teva could lower guidance, and want to avoid this risk by moving to the sidelines."
Shares of Teva Pharma closed at $44.00 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesIrina Koffler
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