Jefferies Sees Favorable Copaxone Ruling is Only Catalyst to Move Shares of Teva Pharm (TEVA)
Tweet
Share
E-mailGet Alerts TEVA Hot Sheet
Price: $37.42 +1.66%
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies is reaffirming its Hold rating and $43 price target on shares of Teva Pharma (NASDAQ: TEVA) following the release of management's fiscal 2012 guidance.
The company's 2012 EPS guidance of $5.48-$5.68 is just inline with the Street's forecast of $5.67. The firm believes the guidance is achievable and possibly beatable. Over the next couple of years, Jefferies anticipates consistent growth of 5-10 percent. The firm reports management has some growing to do before they can "match the transparency and consistency of the big drug companies."
Teva's confirmation that a new drug application filing for Nuvigil would be done in 2012, and that the three Phase 3 trials will start to read out in Q1 is exciting for the company's outlook. The firm views it as a strong asset in its pipeline and believes it could be valued at $1 billion.
An analyst at Jefferies comments, "Many were irritated over items like no generic Tricor in 2012. But we don't see endemic fundamental flaws; if Teva HAD been able to gain approval, guidance would have been exciting. We like the fact that there are no major first-to-file launches driving 2012 since these are always problematic for next year's growth."
The company is maintaining its FY11 and FY12 EPS estimates of $4.92 and $5.50, while lowering its FY13 estimate from $6.03 to $5.98.
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 $41.76 yesterday.
The company's 2012 EPS guidance of $5.48-$5.68 is just inline with the Street's forecast of $5.67. The firm believes the guidance is achievable and possibly beatable. Over the next couple of years, Jefferies anticipates consistent growth of 5-10 percent. The firm reports management has some growing to do before they can "match the transparency and consistency of the big drug companies."
Teva's confirmation that a new drug application filing for Nuvigil would be done in 2012, and that the three Phase 3 trials will start to read out in Q1 is exciting for the company's outlook. The firm views it as a strong asset in its pipeline and believes it could be valued at $1 billion.
An analyst at Jefferies comments, "Many were irritated over items like no generic Tricor in 2012. But we don't see endemic fundamental flaws; if Teva HAD been able to gain approval, guidance would have been exciting. We like the fact that there are no major first-to-file launches driving 2012 since these are always problematic for next year's growth."
The company is maintaining its FY11 and FY12 EPS estimates of $4.92 and $5.50, while lowering its FY13 estimate from $6.03 to $5.98.
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 $41.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Clear Street Reiterates Buy Rating on Anterix Inc. (ATEX)
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
