Mizuho Securities Reiterates Buy on Teva Pharma (TEVA) Ahead of 4Q Earnings

Mizuho Securities reiterated a Buy rating and $79.00 price target on Teva Pharma (NYSE: TEVA) ahead of the company's 4Q15 earnings report. Some 2016 estimates still don't reflect the impact of the AGN generics deal while others model a full year of accretion. Mizuho says 4Q should be generally in line, and modestly impacted by equity financing. Mizuho models $4.81B in revenues and $1.34 EPS vs. $4.84B and $1.28 consensus.

Analyst Irina Koffler commented, "In thinking about 4Q:15 earnings and 2016 quarterly build we recognized a disconnect between our estimates and consensus. Some 2016 estimates still don't reflect the impact of the AGN generics deal while others model a full year of accretion. We attempt to model a reasonable quarter-by-quarter progression that includes the transaction. Mgmt indicated that it plans to delay 2016 guidance until its 1Q:16 earnings call, following deal close. We would be buyers on any weakness associated with consensus adjustments."

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 $60.94 yesterday.

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