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TEVA

Teva

$8.40

-0.68 (-7.49%)

, JNJ

Johnson & Johnson

$142.34

2.54 (1.82%)

10:28
06/12/19
06/12
10:28
06/12/19
10:28

Oklahoma judge wants more answers on Teva opioid settlement, AP says

An Oklahoma judge is declining to approve the state's proposed $85M settlement with Teva (TEVA) until he is assured it complies with a new law targeting such deals, according to Associated Press. Concerned about how the state's $270M settlement with Purdue Pharmaceuticals was structured, the Republican-led Legislature passed a law directing any settlement funds directly into the state treasury, the report notes. Oklahoma's lawsuit blaming Johnson & Johnson (JNJ) and some of its subsidiaries for contributing to the opioid epidemic continues, AP added. Reference Link

TEVA

Teva

$8.40

-0.68 (-7.49%)

JNJ

Johnson & Johnson

$142.34

2.54 (1.82%)

  • 16

    Jul

TEVA Teva
$8.40

-0.68 (-7.49%)

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.
06/03/19
OPCO
06/03/19
UPGRADE
Target $12
OPCO
Outperform
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.
06/03/19
06/03/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Black Knight (BKI) upgraded to Buy from Neutral at Goldman Sachs with analyst James Schneider saying the company's "strong" pipeline of new bank client wins in both mortgage servicing and origination software should drive accelerating revenue growth over 2019 and into 2020 relative to recent quarters. 2. AMC Networks (AMCX) upgraded to In-Line from Underperform at Imperial Capital with analyst David Miller citing valuation. 3. BT Group (BT) upgraded to Outperform from Neutral at Credit Suisse with analyst Paul Sidney saying he has a "much increased" level of confidence in the company's ability to return to sustainable EBITDA growth in fiscal 2021. 4. Brinker (EAT) upgraded to Neutral from Sell at UBS with analyst Dennis Geiger saying that with the stock falling below that level, valuation now appears to reflect the challenges of his April initiation. 5. Teva (TEVA) upgraded to Outperform from Perform at Oppenheimer with analyst Esther Rajavelu saying the shares, trading at its 19-year low, offer a buying opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/11/19
LEHM
06/11/19
INITIATION
Target $8
LEHM
Underweight
Teva initiated with an Underweight at Barclays
Barclays analyst Balaji Prasad started Teva Pharmaceutical Industries with an Underweight rating and $8 price target. The analyst launched coverage of 20 U.S. Specialty Pharmaceuticals with a Neutral industry view. He placed importance on cash flows and companies' ability to manage leverage and improve balance sheets.
JNJ Johnson & Johnson
$142.34

2.54 (1.82%)

05/22/19
WELS
05/22/19
NO CHANGE
WELS
Wells Fargo says start of opioid trial won't be positive for Teva shares
Wells Fargo analyst David Maris noted that the nation's first major opioid case, brought against Teva (TEVA) and Johnson & Johnson (JNJ) in Oklahoma, will begin on May 28 and that the entire trial will be webcast. He thinks that the trial start and the opening webcast statements "will not be positive for Teva shares," adding that he suspects the outcome of this suit will be extrapolated to the Multi-District Litigation coming this fall. Maris keeps a Market Perform rating on Teva shares.
05/28/19
GSCO
05/28/19
INITIATION
Target $163
GSCO
Buy
Johnson & Johnson initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Johnson & Johnson with a Buy rating and $163 price target. J&J's diversified portfolio is a potential strength as it results in the company having the lowest exposure to Medicare/Medicaid within the group, Flynn tells investors in a research note. As a result, he thinks the stock will be less impacted by potential drug pricing headlines/policy proposals ahead of the 2020 presidential election.
05/30/19
WELS
05/30/19
NO CHANGE
WELS
Outperform
Johnson & Johnson concerns over opioid case seem 'overblown,' says Wells Fargo
As the first state opioid trial begins in Oklahoma, Wells Fargo analyst Larry Biegelsen continues to believe that litigation will be manageable for Johnson & Johnson given its size and resources. The analyst notes that it appears the company's pain products - Duragesic patch and Nucynta/ER - accounted for less than 1% of the Oklahoma Medicaid opioid prescriptions from 1996-2017, while the company's slides also show data that fentanyl and tapentadol have lower abuse rates and diversion rates versus oxycodone and hydrocodone. Overall, Biegelsen believes concerns over the Oklahoma opioid case "may be overblown." The analyst has an Outperform rating on the shares.
05/30/19
COWN
05/30/19
NO CHANGE
Target $155
COWN
Outperform
Johnson & Johnson weakness may be overdone, says Cowen
Cowen analyst Joshua Jennings noted the State of Oklahoma is claiming Janssen Pharmaceuticals helped fuel the US opioid crisis which then caused volatility in Johnson & Johnson (JNJ) shares. While JNJ maintains its involvement was limited, the analyst says it is challenging to estimate the potential liability. His analysis however suggests, the stock's pullback is overdone. Jennings maintained his Outperform rating and $155 price target on Johnson & Johnson shares.

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