Deutsche Bank Reiterates Buy, $46 Target on Teva Pharmaceuticals

Deutsche Bank maintains its Buy rating and $46 target on Teva Pharmaceuticals Industry, Ltd. TEVA on new sources of potential strength in 2012 EPS. Deutsche Bank says, “Teva recently implemented a series of unusually robust price increases for several legacy Cephalon branded products. Specifically, there were 15% price increases for Fentora and Provigil as of Oct 20. While the benefit on Provigil will be short lived as it is now just 4 months from being genericized, Teva raised the price of Nuvigil by a whopping 25% - on top of an 8% increase last May. Taken together, these recent increases could likely bolster the outlook for Teva's North American pharmaceutical sales in Q4 and more importantly, in 2012.” TEVA closed at $39.80 per share on Tuesday.