Wells Fargo Downgrades Teva Pharma (TEVA) to Underperform

Wells Fargo downgraded Teva Pharma (NYSE: TEVA) from Market Perform to Underperform with a price target of $17.00 (from $12.00).

Analyst David Maris comments "We have for some time voiced caution on the risks around Teva shares and risks in the generic sector, especially related to pricing pressure and especially ahead of 2Q17 results and then again ahead of 3Q17 results. When Teva recently reset guidance again, the shares dropped significantly, but we believed they largely reflected the risks at the time. However, Teva shares have now risen approximately 80% from its lows in November (vs. approximately 6% for the S&P 500) and we have revisited our assumptions."

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 $19.58 yesterday.

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