Teva Pharma (TEVA): Concerns on Generics Overdone - Guggenheim

November 15, 2016 10:26 AM EST
Get Alerts TEVA Hot Sheet
Price: $36.53 -0.11%

Rating Summary:
    21 Buy, 18 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Guggenheim analyst Louise Chen reiterated a Buy rating and $80 price target on Teva Pharma (NYSE: TEVA) following results. The analyst said concerns that generic sales are disappearing are overdone.

Chen commented, "TEVA reported a 3Q16 beat, underscoring our belief that its execution is still underappreciated. We expect upwards consensus earnings revisions and multiple expansion in '16E+ to drive TEVA shares higher. This could come from: 1) Generic sales and cost synergies not included in TEVA's guidance; 2) Pipeline advancements; and 3) Execution of TEVA's objective to bolster existing franchises through tuck-in deals. This said, the Street continues to be concerned about earnings visibility given headwinds facing TEVA, including: 1) Generic drug pricing pressure; 2) Quality of TEVA's deals; 3) Government investigations; and 4) Lack of organic growth."

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 $41.03 yesterday.



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