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UPDATE: Citigroup Initiates Coverage on Teva Pharmaceutical Industries Ltd. on Attractive Risk-Reward Profile

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In a report published Friday, Citigroup analyst Liav Abraham initiated coverage on Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) with a Buy rating and $47.00 price target.

In the report, Citigroup noted, “We see the potential for value to be unlocked over the next 12 months as investors look past the Copaxone cliff, and focus on the growth profile of the company's ex-Copaxone franchises, which comprise c.80% of the company's intrinsic value and are growing at a 19% 5-year CAGR. We also see the potential for material upside from potential shareholder-friendly actions on the part of management. Actavis and Teva are our Buy-rated names within the multinational generic universe.”

Teva Pharmaceutical Industries Ltd. closed on Thursday at $40.32.

Latest Ratings for TEVA

DateFirmActionFromTo
Nov 2016JefferiesDowngradesBuyHold
Nov 2016Morgan StanleyDowngradesOverweightEqual-Weight
Nov 2016BTIG ResearchDowngradesBuyNeutral

View More Analyst Ratings for TEVA
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Posted-In: Citigroup Liav AbrahamAnalyst Color Initiation Analyst Ratings

 

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