Goldman Sachs Resumes Teva (TEVA) at Neutral; Shares Could Remain Range Bound

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Goldman Sachs resumes coverage on Teva Pharma (NASDAQ: TEVA) with a Neutral and $42 rice target.

Due to the Copaxone overhang, the firm believes the stock could remain range bound unless management changes its priorities and actions.

Goldman said the company could benefit from withdrawing its lofty growth targets and re-calibrating expectations. In addition, they calculate the company has the resources to announce a $3-5 bn buyback program after CEPH financing is complete.

For more ratings news on Teva Pharma click here and for the rating history of Teva Pharma click here.

Shares of Teva Pharma closed at $36.63 yesterday, with a 52 week range of $36.05-$57.08.

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