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Fly News Breaks for August 16, 2017
MYL, TEVA
Aug 16, 2017 | 05:08 EDT
Citi analyst Liav Abraham downgraded Teva Pharmaceutical (TEVA) to Neutral and cut her price target for the shares to $19 from $32. The analyst this morning also upgraded Mylan (MYL) to Buy. Teva is "cheap, but not cheap enough," Abraham tells investors in a research note. She needs to see the appointment of a "respected" CEO and formulation of a credible long-term strategy as well as improvement in the credit situation before getting more constructive on Teva shares.
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