Breaking News Instant updates and real-time market news.

TEVA

Teva

$8.64

-0.19 (-2.15%)

07:33
06/03/19
06/03
07:33
06/03/19
07:33

Oppenheimer upgrades Teva, despite legal uncertainty, with stock at 19-year low

Oppenheimer analyst Esther Rajavelu upgraded Teva Pharmaceutical to Outperform from Perform while lowering her price target for the shares to $12 from $17. The stock closed Friday down 19c to $8.65. The shares, trading at its 19-year low, offer a buying opportunity, Rajavelu tells investors in a research note. The analyst believes Teva's business fundamentals continue to improve and that management's execution on the operational front is generally in line with expectations. She acknowledges, however, that legal uncertainties could remain an overhang the stock. Rajavelu estimates the company's opioid liability exposure at $500M-$700M and believes its price-fixing exposure could be "substantially higher." Teva's balance sheet, assuming the refinancing of certain debt tranches, could sustain $400M in average annual penalties over time, says the analyst.

TEVA Teva
$8.64

-0.19 (-2.15%)

05/30/19
BOFA
05/30/19
DOWNGRADE
Target $9
BOFA
Underperform
Teva downgraded to Underperform on litigation risk at BofA/Merrill
As previously reported, BofA/Merrill double downgraded Teva to Underperform from Buy and lowered its price target to $9. Analyst Jason Gerberry said Teva's financial downside to ongoing opioid litigation is difficult to gauge and the highly fragmented nature of the lawsuits makes a global settlement unlikely. Gerberry is also less confident in Teva's generic pipeline catalysts and said 2020+ estimates have downside risk in a flat to negative pricing environment.
05/30/19
WELS
05/30/19
NO CHANGE
WELS
U.S. generic data continues to show challenging environment, says Wells Fargo
Wells Fargo analyst David Maris says that according to April IQVIA data, Teva (TEVA) U.S. generic sales were down 19% in April year over year, while brands sales were down 15%. Additionally, according to IQVIA data, Teva recently ceded its second place U.S. prescription market share place to competitor Eli Lilly (LLY) for its migraine drug, Ajovy, he points out. For Mylan (MYL), Maris says the monthly trends also paint a negative picture, with IQVIA U.S. generic sales in April down 36%. Nonetheless, the analyst believes Teva and Mylan shares seem to be reflecting an "aggressively negative outlook" given the current earnings multiples, and setting aside the worst-case outcomes in the opioid and price fixing cases, these may be at or nearing attractive valuations. However, for now, he remains on the sidelines, and within generics, continues to recommend Outperform-rated Amphastar (AMPH).
05/30/19
05/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Verizon (VZ) downgraded to Neutral from Buy at UBS with analyst John Hodulik saying with the valuation back in-line with historical levels and more difficult comps ahead, Verizon's risk/reward is more balanced at current share levels. 2. Canada Goose (GOOS) downgraded to Neutral from Buy at BofA/Merrill with analyst Robert Ohmes saying the Direct-to-Consumer, or DTC, slowdown indicates saturation risk and warrants a lower multiple. 3. ViaSat (VSAT) downgraded to Market Perform from Outperform at Raymond James with analyst Rick Prentiss saying shares are up 55% year-to-date, reflecting good news, and expects an increase in R&D and capex from VS-3 satellite builds and deployments, expanding LatAm operations, and acquiring STCs. 4. Teva (TEVA) double downgraded to Underperform from Buy at BofA/Merrill with analyst Jason Gerberry saying Teva's financial downside to ongoing opioid litigation is difficult to gauge and the highly fragmented nature of the lawsuits makes a global settlement unlikely. 5. Toll Brothers (TOL) downgraded to Market Perform from Outperform at Raymond James with analyst Buck Horne saying he is "concerned" that shares will be range-bound near-term due to reduced estimates, a lack of upcoming catalysts, and lingering West Coast issues. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/03/19
OPCO
06/03/19
UPGRADE
Target $12
OPCO
Outperform
Teva upgraded to Outperform from Perform at Oppenheimer
Oppenheimer analyst Esther Rajavelu upgraded Teva Pharmaceutical to Outperform from Perform with a $12 price target.

TODAY'S FREE FLY STORIES

IRM

Iron Mountain

$32.64

-0.135 (-0.41%)

12:35
10/16/19
10/16
12:35
10/16/19
12:35
Options
Iron Mountain put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 31

    Oct

  • 12

    Nov

AMZN

Amazon.com

$1,776.00

7.3 (0.41%)

12:33
10/16/19
10/16
12:33
10/16/19
12:33
Hot Stocks
U.K.'s CMA announces formal investigation of Amazon's Deliveroo investment »

The Competition and…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Oct

  • 24

    Oct

  • 27

    Oct

  • 29

    Oct

  • 21

    Nov

NBEV

New Age Beverages

$2.73

(0.00%)

12:32
10/16/19
10/16
12:32
10/16/19
12:32
Hot Stocks
New Age Beverages says on Twitter that 'big news coming' for Nestea »

The official Twitter…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

12:30
10/16/19
10/16
12:30
10/16/19
12:30
General news
FX Action: USD-JPY »

FX Action: USD-JPY topped…

NWL

Newell Brands

$19.31

0.14 (0.73%)

12:25
10/16/19
10/16
12:25
10/16/19
12:25
Options
Newell Brands call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GM

General Motors

$37.04

0.77 (2.12%)

12:18
10/16/19
10/16
12:18
10/16/19
12:18
Hot Stocks
General Motors confirms UAW's statement regarding proposed tentative agreement »

GM said in a statement:…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
10/16/19
10/16
12:17
10/16/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
10/16/19
10/16
12:16
10/16/19
12:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PLAN

Anaplan

$44.40

-3.33 (-6.98%)

12:15
10/16/19
10/16
12:15
10/16/19
12:15
Options
Anaplan put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 17

    Oct

MCK

McKesson

$146.86

8.69 (6.29%)

, ABC

AmerisourceBergen

$87.62

4.44 (5.34%)

12:11
10/16/19
10/16
12:11
10/16/19
12:11
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks continue in a…

MCK

McKesson

$146.86

8.69 (6.29%)

ABC

AmerisourceBergen

$87.62

4.44 (5.34%)

CAH

Cardinal Health

$49.76

1.83 (3.82%)

JNJ

Johnson & Johnson

$136.44

3.6 (2.71%)

TEVA

Teva

$7.33

0.37 (5.32%)

GM

General Motors

$37.14

0.87 (2.40%)

UAL

United Airlines

$90.00

2.1 (2.39%)

BA

Boeing

$376.35

5.36 (1.44%)

BAC

Bank of America

$30.38

0.64 (2.15%)

MGM

MGM Resorts

$27.47

-0.4 (-1.44%)

BX

Blackstone

$46.86

-0.24 (-0.51%)

ACHN

Achillion

$6.25

2.595 (71.00%)

ALXN

Alexion

$102.60

-2.245 (-2.14%)

SFIX

Stitch Fix

$22.00

1.17 (5.62%)

WDAY

Workday

$158.51

-22.33 (-12.35%)

SNBR

Sleep Number

$45.49

-1.2 (-2.57%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 19

    Oct

  • 22

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 29

    Oct

  • 30

    Oct

  • 30

    Oct

  • 06

    Nov

  • 07

    Nov

  • 07

    Nov

  • 07

    Nov

  • 12

    Nov

  • 12

    Nov

WB

Weibo

$52.17

2.85 (5.78%)

12:05
10/16/19
10/16
12:05
10/16/19
12:05
Options
Weibo call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

APHA

Aphria

$5.00

-0.41 (-7.58%)

12:00
10/16/19
10/16
12:00
10/16/19
12:00
Hot Stocks
Aphria falls -8.1% »

Aphria is down -8.1%, or…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 12

    Nov

NOW

ServiceNow

$251.40

-23.2 (-8.45%)

12:00
10/16/19
10/16
12:00
10/16/19
12:00
Hot Stocks
ServiceNow falls -8.3% »

ServiceNow is down -8.3%,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

  • 12

    Dec

AVD

American Vanguard

$13.39

-1.87 (-12.25%)

12:00
10/16/19
10/16
12:00
10/16/19
12:00
Hot Stocks
American Vanguard falls -12.6% »

American Vanguard is down…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 05

    Nov

  • 19

    Nov

  • 20

    Nov

HOV

Hovnanian

$28.26

2.2 (8.44%)

12:00
10/16/19
10/16
12:00
10/16/19
12:00
Hot Stocks
Hovnanian rises 8.2% »

Hovnanian is up 8.2%, or…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

OMI

Owens & Minor

$6.98

0.55 (8.55%)

12:00
10/16/19
10/16
12:00
10/16/19
12:00
Hot Stocks
Owens & Minor rises 8.2% »

Owens & Minor is up…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

FIT

Fitbit

$3.75

0.305 (8.85%)

12:00
10/16/19
10/16
12:00
10/16/19
12:00
Hot Stocks
Fitbit rises 8.7% »

Fitbit is up 8.7%, or 30c…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GM

General Motors

$37.17

0.9 (2.48%)

11:57
10/16/19
10/16
11:57
10/16/19
11:57
Hot Stocks
UAW sends proposed tentative deal to UAW GM members to ratify »

Following five weeks of…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Oct

PDCO

Patterson Companies

$17.42

0.09 (0.52%)

, HSIC

Henry Schein

$62.68

0.83 (1.34%)

11:55
10/16/19
10/16
11:55
10/16/19
11:55
Hot Stocks
Judge rules Patterson Companies violated U.S. antitrust laws in FTC complaint »

Chief Administrative Law…

PDCO

Patterson Companies

$17.42

0.09 (0.52%)

HSIC

Henry Schein

$62.68

0.83 (1.34%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 08

    Nov

  • 12

    Dec

HSIC

Henry Schein

$62.41

0.56 (0.91%)

11:50
10/16/19
10/16
11:50
10/16/19
11:50
Hot Stocks
Judge dismisses FTC complaint against Henry Schein »

Chief Administrative Law…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 08

    Nov

  • 12

    Dec

XLF

Financial Select Sector

$28.06

-0.02 (-0.07%)

11:50
10/16/19
10/16
11:50
10/16/19
11:50
Options
Upside call buyer in Financial Sector ETF tied to hedge »

Upside call buyer in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

IRBT

iRobot

$58.37

0.58 (1.00%)

11:48
10/16/19
10/16
11:48
10/16/19
11:48
Hot Stocks
SharkNinja says 'will aggressively defend' against iRobot patent suit »

SharkNinja announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

  • 13

    Nov

RNET

RigNet

11:46
10/16/19
10/16
11:46
10/16/19
11:46
Initiation
RigNet initiated  »

RigNet initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ATNI

ATN International

11:46
10/16/19
10/16
11:46
10/16/19
11:46
Initiation
ATN International initiated  »

ATN International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    Oct

AGYS

Agilysys

$25.64

-0.67 (-2.55%)

11:46
10/16/19
10/16
11:46
10/16/19
11:46
Initiation
Agilysys initiated  »

Agilysys initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    Oct

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.