Vetr Issues Strong Buy As Teva Trends Down

The Vetr crowd on Thursday upgraded its rating for Teva Pharmaceutical Industries Limited (ADR) TEVA from 3.5 stars (Buy), issued 15 days ago, to 4.5 stars (Strong Buy). Crowd sentiment at the time of the downgrade was mostly bullish, with 81 0percent of Vetr user ratings bullish.

Share price in the biotech company has been on the downtrend throughout most of 2017, experiencing small price bumps following average earnings reports in February and May, the latter of which revealed the company was $30 million shy of analyst sales estimates, but delivered $0.03 over the quarter's EPS estimate.

However, the stock has resumed its downward path, reaching a new 10-year low of $29.67 by the end of May 18.

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Currently, the Vetr crowd's average target price for Teva is up at 34.25, which is still below the average analyst target price of $45.47. Less than 2 percent of Vetr users are holding TEVA in their watch lists.