Teva Pharma (TEVA) Investors Look To Analyst Day

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On Friday Teva Pharma (NYSE: TEVA) issued 2013 guidance that disappointed investors, sending shares lower. However, shares later recovered losses as investors looked past guidance and evaluated the company on a broader range of issues.

Commenting on developments, analyst Randall Stanicky of Canaccord Genuity said "With the earnings bar set low and a multi-year cost-cutting story introduced, we expect focus to shift to revenue and pipeline visibility, which we expect from the analyst day."

Analyst day is set for December 11th and could be a driver for the stock, thinks Stanicky.

Canaccord Genuity has a Buy rating on Teva with a $50 price target.

For an analyst ratings summary and ratings history on Teva Pharma (NYSE: TEVA) click here. For more ratings news on Teva Pharma click here.

Shares of Teva Pharma closed at $40.35 yesterday, with a 52 week range of $37.40-$46.65.

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