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Analyst Recommendations for Teva Pharmaceutical in July

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Jul. 6 2018, Published 3:37 p.m. ET

Analysts’ views on Teva Pharmaceutical

Teva Pharmaceutical Industries (TEVA) is one of the largest generic drug manufacturers. It has been recuperating from its recent troubles as it started facing generic competition for its key product Copaxone. It has also faced increasing competition in the US generics market and felt the impact of macroeconomic factors.

The company is on track to execute its new restructuring plan put forth in December 2017. It is also showing improvement under its new leadership, which has strengthened Wall Street’s confidence in the company. Warren Buffet’s Berkshire Hathaway initiated investment in Teva in the previous quarter and increased it in the recently reported quarter. The stock has recuperated significantly since the lows in November 2017.

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As of July 6, according to a recent Reuters survey, 28 analysts are tracking TEVA stock. Six of them have given it a “buy” or “strong buy” recommendation, and 15 of them have given it a “hold.” Seven analysts have rated the stock a “sell.”

Target price

As of July 6, the analysts’ consensus target price for TEVA stock for the next 12 months is $20.13. That represents a return of -15.8% on an investment in TEVA stock for the next 12 months. The return is based on TEVA’s closing price of $23.92 on July 5.

Analysts’ average target prices for Teva’s peers Pfizer (PFE), Mylan (MYL), and Eli Lilly (LLY) are $39.86, $48.63, and $91.26, respectively. That implies returns of 8.1%, 34%, and 5.4%, respectively, over the next 12 months.

Recent ratings and target price updates

On July 3, Bernstein raised its target price on TEVA stock from $20 to $26. On June 11, Leerink Partners raised its target price from $13 to $16. In May, Citigroup and Barclays also raised their target prices on Teva.

In the next part of this series, we’ll look at Teva’s recent stock performance.

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