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Sterne Agee Sees Teva Pharmaceutical Outperformance Continuing

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On Wednesday, Sterne Agee initiated coverage on shares of Teva Pharmaceutical Industries (NYSE: TEVA) with a Neutral rating and $53 price target.

Analyst Shibani Malhotra believes “strong conversion of Copaxone 20mg/ml to its 40mg/ml formulation is crucial.”

The analyst credits the stocks year-to-date outperformance (up 25 percent) to the company “signaling its willingness to consider a ‘transformational deal.'”

Shibani would prefer “to see management focus on execution of its realignment and cost-cutting strategy before embarking on any ambitious M&A.”

The stock is up one percent to $50.10 in Wednesday's trading.

Latest Ratings for TEVA

DateFirmActionFromTo
Jun 2019Initiates Coverage OnUnderweight
Jun 2019UpgradesPerformOutperform
May 2019DowngradesBuyUnderperform

View More Analyst Ratings for TEVA
View the Latest Analyst Ratings

Posted-In: Shibani Malhotra Sterne AgeeAnalyst Color Analyst Ratings

 

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