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TEVA

Teva

$16.99

-1.11 (-6.13%)

07:32
09/19/17
09/19
07:32
09/19/17
07:32

Teva completes amendment to credit facilities

Teva Pharmaceutical Industries announced amendments to its USD and JPY term loan and revolving credit facilities, providing Teva greater flexibility in its financial leverage ratio covenants. The amended leverage ratio covenants in the credit agreements permit a maximum leverage ratio of five times through and including December 31, 2018, gradually declining to 3.5 times by December 31, 2020. As of June 30, the aggregate principal amount collectively outstanding under the USD term loan facility was $5B, the aggregate principal amount outstanding under the JPY term loan facilities was $1.4B and the aggregate committed principal amount under the USD revolving credit facility was $4.5B. The amendments received the support of lenders holding approximately 98% of the aggregate loans and undrawn commitments across the five credit facilities.

  • 27

    Sep

TEVA Teva
$16.99

-1.11 (-6.13%)

09/12/17
JPMS
09/12/17
NO CHANGE
Target $235
JPMS
Neutral
JPMorgan sees mixed reaction to Cooper's acquisition of Paragard
JPMorgan analyst Andrew Hanover expects Cooper Companies' (COO) agreement to purchase Teva Pharmaceuticals' (TEVA) Paragard Intrauterine Device to garner a mixed reaction from investors. It will be hard for the 7% of accretion in FY18 "to be enough," since the stock's 45% rally year-to-date is likely driven by investors focused on its consumer-focused CVI business, and this deal does not fit that thesis, Hanover tells investors in a research note. The analyst keeps a Neutral rating on Cooper with a $235 price target.
09/12/17
WELS
09/12/17
NO CHANGE
WELS
Cooper Companies Paragard IUD deal not cheap but 'good fit,' says Wells Fargo
Wells Fargo analyst Larry Biegelsen notes that Cooper Companies (COO) announced that it will acquire Paragard IUD from Teva (TEVA) for $1.1B cash and expects the transaction to close by the end of CY17. The analyst believes that while deal is not cheap, it appears to be a "good strategic fit." Further, he sees the acquisition as accretive to margins but not sales growth.
09/18/17
RBCM
09/18/17
NO CHANGE
RBCM
Teva price target lowered to $15 from $21 at RBC Capital
RBC Capital analyst Randall Stanicky cut his price target on Teva as he believes that the new CEO will need time "to come up to speed," and the analyst is unsure what strategic options the new CEO can take that the board has not already considered. Stanicky says that the company's debt load "looks severe," while it faces multiple additional headwinds, including generic Copaxone and headwinds to its own generic business. He cut his price target on the shares to $15 from $21 and keeps an Underperform rating on the name.
09/19/17
CANT
09/19/17
NO CHANGE
Target $17
CANT
Neutral
Teva divestitures should remove covenant risk, says Cantor
Cantor Fitzgerald analyst Louise Chen says the valuation Teva Pharmaceutical received for its women's health franchise assets is higher than the Street expected. The sale should enable Teva to pay down sufficient debt to remain in compliance with its covenants at year end, Chen wrote yesterday in a research note. She believes the news should remove an overhang on the stock. The analyst keeps a Neutral rating on Teva with a $17 price target.

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CASI

Casi Pharmaceuticals

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DXCM

Dexcom

$56.36

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TNDM

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IDXX

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AGN

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