Mizuho Securities Downgrades Teva Pharma (TEVA) to Neutral
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Teva Pharma (TEVA) Loses Bid to Revive '413, '250, and Third Capaxone Patent in IPR Review - Bloomberg
- Jefferies Cuts Price Target on Eros Int'l (EROS) to $18 Following Multi-Year Deal
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesIrina Koffler
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!