Needham & Company Maintains a 'Hold' on Teva Pharma (TEVA); European Generics Are Bottoming & Downside Risks Shrink
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Price: $40.23 +0.68%
Rating Summary:
7 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 16 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade TEVA Now!
Needham & Company maintains a 'Hold' on Teva Pharma (NASDAQ: TEVA).
Analyst, Elliot Wilbur, said, "TEVA did what the company needed to do in 2Q12– meet and reiterate. While hopes for a miraculous cure to the myriad of short- and longterm challenges facing the company post the arrival of new CEO Dr. Jeremy Levin appear to have faded as quickly as the stock’s post Copaxone litigation victory, shares, in our view, are in the midst of a bottoming phase. Given Teva’s secular low valuation, trading essentially at parity with names such as Warner Chilcott (Nasdaq: WCRX) that have far more defined revenue cliffs, more than a lot of bad news appears to be priced into the name. Additionally, the two biggest downside risks to the story, another substantial step-down in European pharma trends and the IP risk around Copaxone have been taken off the table and downward sales pressure on Copaxone has yet to materialize to the extent anticipated."
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 $38.10 yesterday, with a 52 week range of $35.00-$46.65.
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Analyst, Elliot Wilbur, said, "TEVA did what the company needed to do in 2Q12– meet and reiterate. While hopes for a miraculous cure to the myriad of short- and longterm challenges facing the company post the arrival of new CEO Dr. Jeremy Levin appear to have faded as quickly as the stock’s post Copaxone litigation victory, shares, in our view, are in the midst of a bottoming phase. Given Teva’s secular low valuation, trading essentially at parity with names such as Warner Chilcott (Nasdaq: WCRX) that have far more defined revenue cliffs, more than a lot of bad news appears to be priced into the name. Additionally, the two biggest downside risks to the story, another substantial step-down in European pharma trends and the IP risk around Copaxone have been taken off the table and downward sales pressure on Copaxone has yet to materialize to the extent anticipated."
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 $38.10 yesterday, with a 52 week range of $35.00-$46.65.
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