Mizuho Securities Downgrades Teva Pharma (TEVA) to Neutral

October 24, 2016 6:07 AM EDT
Get Alerts TEVA Hot Sheet
Price: $33.23 -0.72%

Rating Summary:
    18 Buy, 21 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

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 $44.00 yesterday.

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