Fly News Breaks for February 12, 2020
Feb 12, 2020 | 14:05 EDT
Cantor Fitzgerald analyst Louise Chen maintained a Neutral rating on Teva Pharmaceutical and raised her price target to $15 from $9 following the company's in-line Q4 results and "positive" outlook for this year. Chen said the company continues to demonstrate that it has a good plan in place to return the company to growth in 2020 and beyond, though she would like to see increased sales and earnings visibility before getting more positive on the stock. The analyst said that, therefore, she remains on the sidelines with her Neutral rating, though the increase in the price target is driven by multiple expansion. Chen added that she would be more positive on the shares if generic drug pricing were to improve and/or brand launches and pipeline advancements exceed her expectations.
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