UPDATE: Clal Finance Announces $44 PT on Teva Pharmaceutical

Clal Finance has published a research report on Teva Pharmaceutical TEVA and has reinstated a $44 price target after the company's shift from US generics to branded drugs. In the report, Clal Finance writes, "We believe TEVA's shift from a heavy reliance on Copaxone and US generics and into branded drugs and biosimilars (longer term), poses a genuine challenge on growth prospects. Given the relatively premature branded pipe-line, we believe it is still too early to assert the transition's success. We believe Teva's is well positioned with the upcoming court ruling on the Copaxone patent trial. Yet, we underline that an unfavorable ruling presents asymmetric risk with potential ~$5 per share downside (and lower upside of just ~$2.5 per share)." Clal Finance maintains its Market Perform rating on Teva Pharmaceutical, which is currently trading down $0.21 from Friday's $44.92 closing price.