Needham & Company Maintains a 'Hold' on Teva Pharma (TEVA); Adjusting Estimates
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Price: $13.25 +1.84%
Rating Summary:
12 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
12 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Needham & Company maintains a 'Hold' on Teva Pharma (NASDAQ: TEVA).
Analyst, Elliot Wilbur, said, "A quick two weeks post effectively withdrawing 2012 financial guidance, new Teva management emerged with updated near-term financial objectives that while differing only marginally from prior guidance in the aggregate, clearly set a floor under the “how bad can it be” thinking that has hung over shares post 1Q12 results. Given current state of sentiment in the name with shares plunging the depths of oversold territory reached on only four occasions in the past decade, a reflex rally is overdue though key structural overhangs, longer-term opacity on evolution of growth initiatives and revamping of strategic priorities, we find little compelling reason to support a significant fundamental outperformance thesis."
Needham lowers FY12 EPS estimate from $5.59 to $5.34 and FY13 from $6.01 to $5.70.
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 $38.69 yesterday.
Analyst, Elliot Wilbur, said, "A quick two weeks post effectively withdrawing 2012 financial guidance, new Teva management emerged with updated near-term financial objectives that while differing only marginally from prior guidance in the aggregate, clearly set a floor under the “how bad can it be” thinking that has hung over shares post 1Q12 results. Given current state of sentiment in the name with shares plunging the depths of oversold territory reached on only four occasions in the past decade, a reflex rally is overdue though key structural overhangs, longer-term opacity on evolution of growth initiatives and revamping of strategic priorities, we find little compelling reason to support a significant fundamental outperformance thesis."
Needham lowers FY12 EPS estimate from $5.59 to $5.34 and FY13 from $6.01 to $5.70.
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 $38.69 yesterday.
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