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TEVA

Teva

$19.12

0.31 (1.65%)

08:08
02/13/19
02/13
08:08
02/13/19
08:08

Teva sees FY19 free cash flow $1.6B-$2B

Long-term financial targets include: Operating income margin 27%, cash to earnings greater than 80% and net debt/EBITDA less than 3X. Says committed to utilizing cash to pay down debt. Says does not plan to raise equity. Sees FY19 global copaxone sales about $1.5B, sees continued generic erosion. Sees "significant" ProAir HFA erosion due to introduction of generic Albuterol. Sees continued ramp up of Ajovy sales in the U.S. to about $150M, ramp up of Austedo sales in the U.S. to about $350M. Sees FY19 CapEx at similar level vs. 2018. Sees negative impact from foreign exchange in 2019 of about $0.3B on sales, $0.1B on operating profit vs. 2018. Sees FY19 free cash flow $1.6B-$2B, operating income $3.8B-$4.2B, EBITDA $4.4B-$4.8B. Comments taken from slides being presented on the Q4 earnings conference call.

  • 13

    Feb

TEVA Teva
$19.12

0.31 (1.65%)

01/23/19
01/23/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Walmart (WMT) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman citing his belief that Walmart U.S. can now generate sales growth without sacrificing margins, unlike most retailers. 2. Teva (TEVA) upgraded to Buy from Neutral at UBS and to Neutral from Underweight at Piper Jaffray. 3. D.R. Horton (DHI) upgraded to Buy from Neutral at Mizuho with analyst Haendel St. Juste saying stock selectivity is becoming more important in these latter stages of the housing cycle and larger platforms with price point diversification and strong balance sheets will be rewarded. 4. Logitech (LOGI) upgraded to Overweight from Neutral at JPMorgan and to Hold from Sell at Maxim. 5. Lamb Weston (LW) upgraded to Buy from Hold at Stifel with analyst Christopher Growe saying he is confident in the "growth profile of the business continuing amidst the very strong operating conditions in the category." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/25/19
PIPR
01/25/19
NO CHANGE
PIPR
Report that CVS excluded Amgen's Aimovig 'greatly exaggerated,' says Piper
Piper Jaffray analyst Christopher Raymond kept an Overweight rating and $220 price target on Amgen (AMGN) following a Reuters report from earlier on Friday which stated that CVS (CVS) has excluded Amgen's Aimovig from its formulary. The analyst called the report "Friday afternoon clickbait" and noted that while CVS currently provides preferred status to Teva's (TEVA) Ajovy and Eli Lilly's (LLY) Emgality, this was made public in late 2018. In a check with management, Raymond found out the decision only encompasses about one-third of CVS network, that CVS is actively working to improve this access, and that 70% of commercial migraine patients have contracted access to Aimovig. Raymond concluded that this was "not something to worry about" in his view, and did not change his Q4, FY19, or FY20 estimates on Aimovig. In Friday trading, shares of Amgen were down just over 1% to $198.77.
01/30/19
WELS
01/30/19
NO CHANGE
WELS
Wells says Novartis report read-through 'neutral to negative' for Mylan, Teva
After Novartis' (NVS) Sandoz generics unit reported Q4 sales were down 2% in constant currency, due to a 7% decline in price and 5% increase in volume, Wells Fargo analyst David Maris noted that the majority of the price erosion came from the U.S. While the 2% decline was a sequential improvement from down 4% in Q3, Novartis was up against an easy comparison in the year ago period, Maris added. His view is that the U.S. generic market has not materially changed or improved at this point and he contends the report has a "neutral to negative read-through" relative to investors' expectations for Mylan (MYL) and Teva (TEVA).
02/01/19
WELS
02/01/19
NO CHANGE
Target $46
WELS
Market Perform
Perrigo's ProAir opportunity 'may be vaporizing,' says Wells Fargo
Wells Fargo analyst David Maris noted that GlaxoSmithKline (GSK) launched an authorized generic of Ventolin on January 15 and he has now learned that Teva (TEVA) may have "surprisingly launched" an authorized generic of ProAir in response to the generic Ventolin pressure prior to Perrigo's (PRGO) approval. Pricing pressure from generic Ventolin, in addition to the launch of an authorized generic well ahead of Perrigo's own generic ProAir launch, seem to have significantly diminished Perrigo's generic ProAir opportunity, Maris tells investors. He keeps a Market Perform rating and $46 price target on Perrigo shares.

TODAY'S FREE FLY STORIES

HON

Honeywell

$152.60

-1.2 (-0.78%)

17:43
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BA

Boeing

$417.48

-4.13 (-0.98%)

17:40
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INFN

Infinera

$4.87

-0.02 (-0.41%)

17:39
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17:39
Earnings
Infinera sees Q1 EPS (27c) plus/minus 2c, consensus (19c) »

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CRON

Cronos Group

$22.45

0.22 (0.99%)

, MO

Altria Group

$50.38

-0.14 (-0.28%)

17:37
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Cronos Group shareholders approve C$2.4B investment from Altria Group »

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CRON

Cronos Group

$22.45

0.22 (0.99%)

MO

Altria Group

$50.38

-0.14 (-0.28%)

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  • 21

    Feb

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    Feb

BAH

Booz Allen

$53.64

-0.105 (-0.20%)

, GD

General Dynamics

$171.66

-2.78 (-1.59%)

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$171.66

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LDOS

Leidos

$62.87

1.175 (1.90%)

SAIC

SAIC

$75.73

-0.75 (-0.98%)

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  • 28

    May

INFN

Infinera

$4.87

-0.02 (-0.41%)

17:35
02/21/19
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17:35
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17:35
Earnings
Infinera reports Q4 EPS (25c), consensus (27c) »

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    Feb

ECIFF

EDF

$0.00

(0.00%)

17:33
02/21/19
02/21
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17:33
Downgrade
EDF rating change  »

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LEE

Lee Enterprises

$2.69

0.075 (2.87%)

17:32
02/21/19
02/21
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17:32
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Lee Enterprises' TownNews acquires CMS business from GTxcel »

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CENX

Century Aluminum

$9.30

0.12 (1.31%)

17:31
02/21/19
02/21
17:31
02/21/19
17:31
Earnings
Century Aluminum reports Q4 EPS (43c), consensus (53c) »

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  • 21

    Feb

EXEL

Exelixis

$21.22

(0.00%)

17:30
02/21/19
02/21
17:30
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17:30
Initiation
Exelixis initiated  »

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EPSN

Epsilon Energy

$0.00

(0.00%)

17:30
02/21/19
02/21
17:30
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17:30
Hot Stocks
Epsilon Energy sees 2019 production growth of 27%-33% y/y »

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SSRM

SSR Mining

$14.13

0.245 (1.76%)

17:29
02/21/19
02/21
17:29
02/21/19
17:29
Earnings
SSR Mining sees FY19 gold production 395,000 equivalent ounces »

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  • 22

    Feb

ENPH

Enphase Energy

$7.37

0.13 (1.80%)

17:29
02/21/19
02/21
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17:29
Hot Stocks
Park West Asset Management reports 5.4% passive stake in Enphase Energy »

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  • 26

    Feb

EPSN

Epsilon Energy

$0.00

(0.00%)

17:29
02/21/19
02/21
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17:29
Hot Stocks
Epsilon Energy board approves $20M-$25M capital budget for 2019 »

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SSRM

SSR Mining

$14.13

0.245 (1.76%)

17:28
02/21/19
02/21
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17:28
Earnings
SSR Mining reports Q4 adjusted EPS 4c, two estimates 0c »

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  • 22

    Feb

BIIB

Biogen

$320.99

-14.02 (-4.18%)

17:28
02/21/19
02/21
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17:28
Initiation
Biogen initiated  »

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DBX

Dropbox

$25.58

0.1 (0.39%)

17:27
02/21/19
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17:27
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17:27
Earnings
Dropbox sees FY19 revenue $1.63B-$1.64B, consensus $1.6B »

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  • 21

    Feb

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QNST

QuinStreet

$13.52

-0.26 (-1.89%)

17:26
02/21/19
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17:26
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Park West Asset Management reports 5.0% passive stake in QuinStreet »

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  • 14

    Mar

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APPN

Appian

$38.73

0.41 (1.07%)

17:26
02/21/19
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17:26
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Earnings
Appian sees FY19 EPS (46c)-(42c), consensus (44c) »

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WAB

Wabtec

$73.59

-1.425 (-1.90%)

, GT

Goodyear Tire

$19.19

-0.2 (-1.03%)

17:26
02/21/19
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17:26
Hot Stocks
S&P announces changes to S&P 400, 500 indices »

Wabtec (WAB) will replace…

WAB

Wabtec

$73.59

-1.425 (-1.90%)

GT

Goodyear Tire

$19.19

-0.2 (-1.03%)

GE

General Electric

$10.03

-0.07 (-0.69%)

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  • 11

    Mar

DBX

Dropbox

$25.58

0.1 (0.39%)

17:26
02/21/19
02/21
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17:26
Earnings
Dropbox sees Q1 revenue $379M-$382M, consensus $377.03M »

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  • 21

    Feb

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EIDX

Eidos Therapeutics

$14.99

-0.64 (-4.09%)

17:25
02/21/19
02/21
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17:25
Initiation
Eidos Therapeutics initiated  »

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  • 25

    Mar

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NOC

Northrop Grumman

$287.50

-0.73 (-0.25%)

17:25
02/21/19
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17:25
Hot Stocks
Northrop Grumman Australia unit to continue work on F-35 program »

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  • 21

    Feb

APPN

Appian

$38.73

0.41 (1.07%)

17:25
02/21/19
02/21
17:25
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17:25
Earnings
Appian sees Q1 EPS (17c)-(16c), consensus (12c) »

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  • 07

    Mar

APPN

Appian

$38.73

0.41 (1.07%)

17:22
02/21/19
02/21
17:22
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17:22
Earnings
Appian reports Q4 EPS (22c), consensus (16c) »

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