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Fly News Breaks for June 12, 2019
TEVA
Jun 12, 2019 | 11:20 EDT
This morning, Oklahoma Judge Thad Balkman reportedly declined to approve the state's $85M opioid settlement with Teva Pharmaceuticals, Wells Fargo analyst Davis Maris tells investors in a research note. However, the analyst believes the development sounds like "more of an administrative burden rather than a threat to the actual settlement." As such, the 7% pullback in Teva shares "seems overdone," says Maris, who adds that the selloff shows how sensitive investors are to litigation risk. He expects Teva shares to rebound off of the morning's lows. Maris has a Market Perform rating on Teva.
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