Teva Pharma (TEVA): Cutting Estimates But Thesis Intact; Reit Buy - Guggenheim
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Guggenheim analyst, Louise Chen, cut estimates while reiterating her Buy rating and price target of $80 on shares of Teva Pharma (NYSE: TEVA). The analyst sees several headwinds to sales and earnings in 2H16 that were not previously anticipated.
That said, the analyst believes her investment thesis for TEVA remains intact, and she continues to expect multiple expansion to drive TEVA shares higher. She believes TEVA's ability to integrate the AGN (NYSE: AGN) generics deal, and advance its brand drug pipeline are still underappreciated.
The risk/reward for TEVA is skewed to the upside, because the Street is pricing in the worst case outcome for TEVA in '16+ which is:
1) generic competition for Copaxone 40mg by '18
2) generic drug price erosion will get worse in '17
3) TEVA cannot grow generic sales 5% annually
Shares of Teva Pharma closed at $45.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Assumes Teva Pharma (TEVA) at Outperform
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
- Fiat Chrysler (FCAU) Remains a Top Pick at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesEarnings, Louise Chen, Guggenheim
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!