UPDATE: Morgan Stanley Lowers Teva Pharmaceutical's PT
According to a research report published this morning, Morgan Stanley has lowered Teva Pharmaceuticals' (NASDAQ: TEVA) PT from $47 to $44.
In the report, Morgan Stanley mentioned, "We are lowering our 2012E-‘15E revenue by 5% and EPS by 3% and also reducing our PT from $47 to $44 following management's May 24guidance update. Relative valuation is discounted on ‘13E P/E, but inline on ‘15E. We await strategic updates and Copaxone news flow."
Morgan Stanley maintains its Equal-weight rating on Teva Pharmaceuticals, which closed Friday at $38.61.
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