Wells Fargo Downgrades Teva Pharma (TEVA) to Market Perform

March 18, 2013 7:58 AM EDT
Get Alerts TEVA Hot Sheet
Price: $33.97 --0%

Rating Summary:
    19 Buy, 20 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 6
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Wells Fargo downgraded Teva Pharma (NYSE: TEVA) from Outperform to Market Perform and lowered their valuation range from $45-$48 to $43-$45. The downgrade was a part of the firm's broader downgrade of the Drug sector rating to Market Weight from Overweight.

On the downgrade, the firm aid the the turnaround plan has evolved slower than they had thought, and potential approval of BG-12 could put further pressure on TEVA's P/E multiple.

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 $40.82 yesterday.

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