Canaccord Genuity Cuts Price Target on Teva (TEVA)
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Price: $35.01 --0%
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 11
Rating Summary:
17 Buy, 22 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 11
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Canaccord Genuity maintained a Buy rating on Teva Pharma (NASDAQ: TEVA) and cut its price target to $50.00 (from $52.00).
"We still think 2013 will mark a better year for the stock but outperformance is unlikely until after the Dec. 11 strategy meeting. P&L visibility is low into the meeting but if properly messaged against a lower 2013 hurdle we could see a reset to a stock that's been out of favor for over a year," said analyst Randall Stanicky.
Canaccord Genuity lowered EPS estimates heading into Q3, and it also sees lower EPS through 2013-15 due to lower U.S. generics sales.
For an analyst ratings summary and ratings history on Teva Pharma click here. For more ratings news on Teva Pharma click here.
Shares of Teva Pharma closed at $38.10 yesterday.
"We still think 2013 will mark a better year for the stock but outperformance is unlikely until after the Dec. 11 strategy meeting. P&L visibility is low into the meeting but if properly messaged against a lower 2013 hurdle we could see a reset to a stock that's been out of favor for over a year," said analyst Randall Stanicky.
Canaccord Genuity lowered EPS estimates heading into Q3, and it also sees lower EPS through 2013-15 due to lower U.S. generics sales.
For an analyst ratings summary and ratings history on Teva Pharma click here. For more ratings news on Teva Pharma click here.
Shares of Teva Pharma closed at $38.10 yesterday.
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