Teva Pharmaceutical Industries (TEVA) is gradually recovering from the lows it witnessed in late 2017 due to generics competition, pricing pressure, and declining Copaxone sales. Teva’s growth prospects have been boosted by the FDA’s recent approval of its migraine drug. In recent months, analysts have been more confident about the company’s growth prospects. In this part, we’ll look at analysts’ recent recommendations and target prices on Teva stock.
As of October 11, 24 analysts covered Teva stock and were included in a recent Reuters survey. Among these analysts, 17% recommended a “buy” or “strong buy” on the stock. 66% of the analysts have a “hold” recommendation on Teva Pharmaceutical Industries. The other 17% of the analysts provided a “sell” recommendation. The above chart shows analysts’ recommendation summary for Teva over the last few months.
As of October 11, Teva Pharmaceutical Industries stock has a consensus target price of $21.53 per share, which implies a return potential of 3.9% based on its closing price of $21.08 on October 10. Teva stock declined ~2.4% over the last week and ~0.7% yesterday due to the broader market sell-off. However, analysts remain positive on the stock’s growth prospects.
As of October 11, Pfizer (PFE), Novartis (NVS), and Mylan (MYL) have consensus target prices of $42.47, $98.50, and $45.18, respectively. The target prices imply 12-month return potentials of -4.6%, 16.7%, and 30.6%, respectively.