UBS Maintains a 'Buy' on Teva Pharma (TEVA); CEO Highlights From Conference Call
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Price: $39.35 -2.14%
Rating Summary:
7 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
7 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade TEVA Now!
UBS maintains a 'Buy' on Teva Pharma (NASDAQ: TEVA) price target lowered from $60 to $52.
Analyst, Marc Goodman, said, "What’s new? New CEO Jeremy Levin provided an update on the biz: (1) He lowered guidance in the EU by $1B with $600M from FX and $400M from macro issues. (2) He lowered US revs by $540M which includes $400M in generics. This $400M is due to mgt. being more selective on the products it sells with more focus on profitability. The $400M impact will only affect the bottom line by $0.04. (3) The US generics top line impact is composed of a reduction in inventory of $250M and $150M of products that will be delayed."
Goodman also noted that moving big ships takes time, and there are still questions to be answered. All in, however, shares look very interesting/appealing at current levels. FY12 EPS estimate cut from $5.62 to $5.40 and FY13 from $6.06 to $5.80.
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 $38.69 yesterday, with a 52 week range of $35.00-$51.15.
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Analyst, Marc Goodman, said, "What’s new? New CEO Jeremy Levin provided an update on the biz: (1) He lowered guidance in the EU by $1B with $600M from FX and $400M from macro issues. (2) He lowered US revs by $540M which includes $400M in generics. This $400M is due to mgt. being more selective on the products it sells with more focus on profitability. The $400M impact will only affect the bottom line by $0.04. (3) The US generics top line impact is composed of a reduction in inventory of $250M and $150M of products that will be delayed."
Goodman also noted that moving big ships takes time, and there are still questions to be answered. All in, however, shares look very interesting/appealing at current levels. FY12 EPS estimate cut from $5.62 to $5.40 and FY13 from $6.06 to $5.80.
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 $38.69 yesterday, with a 52 week range of $35.00-$51.15.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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