JP Morgan upgrades Teva – Globes


Analyst Chris Schott has upgraded Teva from “Underweight” to “Impartial” however maintained the $eight value goal, a 16.four% draw back on the present share value.


US funding financial institution J.P. Morgan has upgraded Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) from “Underweight” to “Impartial” In buying and selling on Wall Road, Teva’s share is up 2.5% at $9.56, giving a market cap of $10.465 billion. The share value is down 60% over the previous 12 months however has risen 30% up to now three months and is at present at a 4 month excessive.

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J.P. Morgan analyst Chris Schott just isn’t bullish on Teva’s long-term prospects. He wrote, “We stay pretty bearish on the longer-term setup for the corporate between its lack of growth-drivers and nonetheless high-leverage. Nevertheless, Teva’s near-to-mid-term fundamentals are stabilizing.”

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However he was sanguine a few decision to the opioids litigation towards the Israeli pharmaceutical firm. “Whereas there should be an extended strategy to go earlier than we see TEVA’s opioid-saga come to an in depth, preliminary settlement time period counsel little further-downside to shares on a DCF-basis,” he wrote.

However, Schott has left Teva’s goal value at $eight, a 16.four% draw back on the present value.

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Revealed by Globes, Israel enterprise information – en.globes.co.il – on November 12, 2019

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© Copyright of Globes Writer Itonut (1983) Ltd. 2019



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