Teva Pharma (TEVA): Concerns on Generics Overdone - Guggenheim
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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."
Shares of Teva Pharma closed at $41.03 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesEarnings, Louise Chen, Guggenheim
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