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Fly News Breaks for August 7, 2019
TEVA
Aug 7, 2019 | 10:14 EDT
As previously reported, Evercore ISI analyst Umer Raffat downgraded Teva to In Line from Outperform in light of new disclosures today that he believes "have introduced lots more uncertainty." The company's cash flows "have been a HUGE issue," its debt maturities "haven't been managed properly," the opioid litigation situation is getting more unclear and its CFO is departing, said Raffat, who removed his price target Teva shares.