Canaccord Genuity Reiterates a 'Buy' on Teva Pharma (TEVA); Win Now A Reality

Canaccord Genuity reiterates a 'Buy' on Teva Pharma (NASDAQ: TEVA) price target of $52.00.

Analyst, Randall Stanicky, said, "Friday evening, the U.S. district court for the Southern District of New York ruled in favor of Teva’s patent infringement lawsuit against Momenta (Nasdaq: MNTA)/Sandoz and Mylan (NYSE: MYL)/Natco covering patents that extend to September of 2015. A decision had been imminent and keeping many on the sidelines given the magnitude of P&L risk (US Copaxone is ~ 34% of EPS based on our estimate). With a win now a reality and risk removed, the stock should see a boost with what we think will be solid follow-through into the H2 business review updates."

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.

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