Barclays Raises Its 12-Month Target Price on Teva Stock



Barclays increases its target price on TEVA stock

On May 24, 2018, Barclays (BCS) increased its 12-month target price on Teva Pharmaceutical Industries (TEVA) from $13 to $20. However, the firm has maintained its “equal weight” rating on TEVA stock. The increased target price represents a potential investment return of ~15.7% over the next 12 months. On May 24, Teva stock closed trading with a rise of 2.3% as compared to the stock’s closing price on the previous day.

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Wall Street consensus recommendations on Teva

Let’s take a look at the consensus analyst recommendations on Teva for the next 12 months. As of May 25, as per a Reuters survey of 31 brokerages covering Teva stock, 16 of the analysts have a “hold” recommendation on Teva stock. Nearly 22% of these analysts have a “buy” or “strong buy” rating on the stock. The remaining 26% of analysts view TEVA stock as a “sell.”

Target price

As of May 25, analysts’ consensus 12-month target price for Teva is $19.1, implying a 12-month investment return potential of -11.7%. The return is based on Teva’s closing price of $21.63 on May 24.

Teva’s peers Amgen (AMGN) and Eli Lilly (LLY) have average broker target prices of $195.4 and $90.9, respectively. These figures imply returns of 9.8% and 9.9%, respectively, over the next 12 months. In the next article, we’ll look at the latest update on migraine drug Fremanezumab’s FDA approval timeline.

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