Oppenheimer Remains a Hold on Teva Pharma (TEVA)


In a report released today, Esther Rajavelu from Oppenheimer maintained a Hold rating on Teva Pharma (NYSE: TEVA). The company’s shares opened today at $24.61, close to its 52-week high of $25.96.

Rajavelu wrote:

“We are assuming coverage of TEVA and are cautiously optimistic that the company may be in a position to return to earnings growth and value creation despite continued pressure on the top line. While we acknowledge a thesis around pipeline opportunities and revenue growth could be “exciting,” we note a “boring” recovery story can be good if it includes cash flow generation and leverage reduction. While we are fairly confident TEVA could reduce leverage using existing cash and cash flow from operations, we maintain our Perform rating as we expect investor sentiment to remain subdued until the market sees further evidence of execution from this new management team. We estimate every $5B in leverage reduction could add ~$5 per share, all else equal.”

According to TipRanks.com, Rajavelu is ranked #4507 out of 4875 analysts.

Currently, the analyst consensus on Teva Pharma is a Hold with an average price target of $24.25, a -1.5% downside from current levels. In a report issued on September 17, BTIG also upgraded the stock to Hold.

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Based on Teva Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $172 million. In comparison, last year the company had a GAAP net loss of $6.29 billion.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Teva Pharmaceutical Industries Ltd. is a global pharmaceutical company, which engages in development, production and marketing of drugs, generic drugs, over-the-counter drugs, active ingredients for the pharmaceutical industry (APIs) and therapeutic products. It operates through two segments: Generic Medicines and Specialty Medicines.

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