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Fly News Breaks for May 9, 2016
FMS, TEVA
May 9, 2016 | 07:08 EDT
Bernstein added Teva (TEVA) and Fresenius Medical (FMS) to its recommended portfolio of healthcare stocks. The firm says that Fresenius is not exposed to the pricing pressures affecting the sector, while Teva will allow investors to take advantage of the strong value opportunity within the pharma sector. In conjunction with its recommendation of Teva and Fresenius, Bernstein upgraded the European healthcare sector two notches, to Overweight from Underweight. The firm says that the downturn in the sector on drug pricing pressures has been overdone. According to the firm, drug prices will be pressured, but pharma stocks are currently reflecting no growth beyond 2020. Bernstein believes that outlook is overly pessimistic.
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