Jefferies Reiterates Hold, $43 Target on Teva

Jefferies maintains its Hold rating and $43 target price on Teva (NASDAQ: TEVA) as the company's 2012 guidance failed to catalyze the stock despite being achievable and beatable.

Jefferies comments, "It is unclear to us what gets this stock moving except for perhaps a favorable Copaxone ruling in Q2'12. Our $5.50 for 2012 is 12% reported growth (6% excluding CEPH accretion). For a $40B MC company, that's not bad. But since this gives it a 7.5x multiple (~1x PE/long-term growth), it is hard for us to talk ourselves out of our HOLD rating."

TEVA closed at $41.41 per share on Thursday.