Citigroup Inc. Initiates Coverage on Teva Pharmaceutical Industries Ltd (TEVA)
Equities researchers at Citigroup Inc. began coverage on shares of Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $47.00 price target on the stock. Citigroup Inc.’s price objective suggests a potential upside of 12.71% from the stock’s previous close.
The analysts wrote, “We see the potential for value to be unlocked over the next 12 months as investors look past the Copaxone cliff, and focus on the growth profile of the company’s ex-Copaxone franchises, which comprise c.80% of the company’s intrinsic value and are growing at a 19% 5-year CAGR. We also see the potential for material upside from potential shareholder-friendly actions on the part of management. Actavis and Teva are our Buy-rated names within the multinational generic universe.”
Shares of Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) traded up 3.42% on Friday, hitting $41.70. The stock had a trading volume of 7,995,499 shares. Teva Pharmaceutical Industries Ltd has a 52-week low of $36.63 and a 52-week high of $42.83. The stock’s 50-day moving average is $38.99 and its 200-day moving average is $39.13. The company has a market cap of $35.236 billion and a P/E ratio of 82.79.
Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.20 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.20. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the company posted $1.28 earnings per share. Teva Pharmaceutical Industries Ltd’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that Teva Pharmaceutical Industries Ltd will post $5.00 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Oppenheimer initiated coverage on shares of Teva Pharmaceutical Industries Ltd in a research note to investors on Monday, October 14th. They set a “market perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Teva Pharmaceutical Industries Ltd in a research note to investors on Thursday, September 26th. They now have a $40.00 price target on the stock. Finally, analysts at Morgan Joseph cut their price target on shares of Teva Pharmaceutical Industries Ltd from $45.00 to $43.00 in a research note to investors on Friday, September 13th. They now have a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Teva Pharmaceutical Industries Ltd has an average rating of “Hold” and an average price target of $45.00.
Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA) is a global pharmaceutical and drug company.
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