JHVEPhoto/iStock Editorial via Getty Images Argus has upgraded Teva ( NYSE: TEVA ) to buy, citing valuation and the approval of several new products. “After several years of challenges, Teva appears to have steadied its ship, launching a range of new drugs and achieving margin growth across all of its three primary business areas,” Argus said in a note. The investment bank pointed to FDA approvals of extended release formulations of Teva’s drugs for tardive dyskinesia and Huntington’s disease chorea, along with generic versions of Humira, Stelara and Victoza.
Argus added that it viewed the stock as attractively priced at current levels of below $16 per share and set its price target at $20. More on Teva Pharmaceutical Teva Pharmaceutical Industries Limited (TEVA) Goldman Sachs 45th Annual Global Healthcare Conference (Transcript) Teva Pharmaceutical: Buy This Bargain Before It's Gone Teva Pharmaceutical Industries Limited (TEVA) BofA Securities 2024 Health Care Conference (Transcript) Teva focus of FTC investigation over inhaler patents Teva to pay $750M as part of tax deal with Israel.
