Why Has Mizuho Given Teva Pharma (NYSE:TEVA) a $79 Price Target
In a recent research report made public today, Mizuho analysts initiated Teva Pharma (NYSE:TEVA) coverage with “Buy” rating, and a $79 target price.
From a total of 22 analysts covering Teva Pharma (NYSE:TEVA) stock, 16 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $100 while the lowest target price is $62. The mean of all analyst targets is $76.59 with a 21.50% above today’s ($65.77) stock price. Teva Pharma was the topic of 15 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Guggenheim upgraded shares on December 4 to “Buy” rating. Goldman Sachs maintained shares with “Buy” rating and $80 target share price in a report from an August 10. Jefferies reinitiated TEVA stock in a recent report from October 30 with “Buy” rating. Morgan Stanley reinitiated the rating on July 29. Morgan Stanley has a “Overweight” rating and a $85.0 price target on shares. Finally, JP Morgan reinitiated the stock with “Overweight” rating in a report issued on an August 3.
The stock increased 3.53% or $2.24 during the last trading session, striking $65.77. Approximately 1,040 shares of stock traded hands. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has risen 6.12% since May 4, 2015 and is uptrending. It has outperformed by 7.20% the S&P500.
Teva Pharmaceutical Industries Limited is a global pharmaceutical and drug company. The company has a market cap of $61.24 billion. The Company’s generic products cover almost every major therapeutic area. It has 31.86 P/E ratio. The Firm operates its business in two divisions: Generic medicines, which makes and sells generic pharmaceutical products in several dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams, and Specialty medicines, which delivers solutions to patients and providers via medicines, devices and services.
According to Zacks Investment Research, “TEVA Pharmaceuticals USA, the business is to develop, manufacture, and market generic pharmaceuticals. Teva USA sells its products to chains, wholesalers, distributors, hospitals, managed care entities, and government agencies. The company markets a variety of dosage forms, including both extended and immediate release tablets and capsules, creams, ointments, solutions, and suspensions. Key therapeutic areas are the analgesic, anti-infective, cardiovascular, CNS, dermatological and anti-inflammatory categories.” Get a free copy of the Zacks research report on Teva Pharmaceutical Industries Ltd (ADR) (TEVA).