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Teva Pharma (TEVA) Numbers Ratcheted Higher at Citi on Bullish Copaxone News

April 1, 2014 10:02 AM EDT
Get Alerts TEVA Hot Sheet
Price: $14.11 -2.22%

Rating Summary:
    12 Buy, 25 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Shares of Teva Pharma (NYSE: TEVA) are mildly lower today (-0.6%) despite bullish commentary at Citigroup with the Copaxone bull case thesis materializing. Citi analyst Liav Abraham reiterated a Buy rating and boosted the price target on the stock from $56 to $70.

Liav said, "Today’s decision by the US Supreme Court to hear Teva's appeal regarding the previously invalidated Copaxone '808 patent shifts Copaxone from an "at-risk" to a largely sustainable franchise for Teva over the near to medium term, we believe. The ramifications of today’s announcement are multifactorial for Teva, and include (i) upside to the ongoing conversion of Copaxone 20mg patients to the 40mg
formulation; (ii) enhanced free cash flow generation for Teva, implying greater
financial flexibility.

Teva remains the firm's preferred name in the multinational generics space and is on Citi's US Focus List. The firm raised FY 2014 EPS from $4.67 to $5.21 (cons $4.56), FY 2015 EPS from $4.60 to $5.40 (cons $4.54), FY 2016 EPS from $4.66 to $5.52 (cons $4.58).

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 $52.84 yesterday.


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