Leerink Swann Downgrades Teva Pharma (TEVA) to Market Perform
Tweet
Share
E-mailGet Alerts TEVA Hot Sheet
Price: $36.77 +0.68%
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Leerink Swann downgraded Teva Pharma (NYSE: TEVA) from Outperform to Market Perform and lowered its valuation range from $47-$48 to $44-$45 citing challenging revenue outlook, limited near-term catalysts, and modest upward pressure on TEVA’s tax rate.
The firm comments, "We are changing our rating to MP from OP based on a challenging revenue outlook, limited near-term catalysts, and modest upward pressure on TEVA’s tax rate – tax-free Copaxone profits are expected to diminish with lower sales. Cumulatively, we believe TEVA’s branded pipeline can start to deliver tangible contribution starting in 2015+, but we are skeptical it can replace the revenue lost from legacy products facing competitive pressure. In our view, yesterday’s longanticipated Investor Day produced no upside surprises, and investors should look for a better entry point in the stock for a more material upside opportunity."
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 $41.67 yesterday.
The firm comments, "We are changing our rating to MP from OP based on a challenging revenue outlook, limited near-term catalysts, and modest upward pressure on TEVA’s tax rate – tax-free Copaxone profits are expected to diminish with lower sales. Cumulatively, we believe TEVA’s branded pipeline can start to deliver tangible contribution starting in 2015+, but we are skeptical it can replace the revenue lost from legacy products facing competitive pressure. In our view, yesterday’s longanticipated Investor Day produced no upside surprises, and investors should look for a better entry point in the stock for a more material upside opportunity."
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 $41.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Calian Group Ltd (CGY:CN) (CLNFF) PT Raised to Cdn$109 at Desjardins
- Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesSign 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!
