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Fly News Breaks for June 17, 2019
TEVA
Jun 17, 2019 | 07:17 EDT
Citi analyst Liav Abraham removed Teva Pharmaceutical from her firm's Focus List after cutting her price target for the shares to $13 from $23. Near-term litigation catalysts are unlikely to favor the opioid manufacturers, Abraham tells investors in a research note. The analyst views the upcoming Ohio multi-district litigation, where the court case is scheduled for October 2019, as an important catalyst. At current levels, she believes Teva is pricing in an incremental liability of $5B-$10B. Abraham keeps a Buy rating on Teva.
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