Teva Pharma (TEVA): Cutting PT "Well Below" Consensus - RBC
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RBC Capital analyst, Randall Stanicky, reiterated his Outperform rating on shares of Teva Pharma (NYSE: TEVA) but cut his price target to $58 from $71. TEVA will provide 3Q results and a guidance update on Tuesday and the analyst is lowering forecasts well below consensus ahead of another potential reset.
The stock is down 25% since 7/13 (post-AGN) guidance and notably down 20% since 9/9 "generics day" update suggesting that another cut is anticipated.
Shares of Teva Pharma closed at $40.65 yesterday.
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