UPDATE: Goldman Sachs Raises Target to $48 on Teva

Goldman Sachs reiterates its Neutral rating on Teva (NASDAQ: TEVA) and raises its price target to $48 (previously $44) as the company has a new CEO that may prove a catalyst for faster growth.

Goldman Sachs says, "TEVA shares have responded very well to the announcement of the new CEO as investors applaud the board's taking action and the opportunity for change. We expect it will take time for Dr. Levin to form and execute his strategy (he does not take the helm until May). ...While TEVA's fundamental challenges ahead are not insignificant given the eroding twin anchors of Copaxone and the US generics business (which represent roughly 75% of EPS), we note some actions the company could consider to unlock value."

TEVA closed at $46.09 a share on Wednesday.