Piper Sandler last night upgraded Teva Pharmaceutical to Neutral from Underweight with a price target of $12, up from $8. Senior leadership’s “greater lean” into brand assets likely translates into less in the way of downside risk in 2024, particularly as Teva gradually chips away at its overall debt burden, the analyst tells investors in a research note. The firm finds it difficult to envision further multiple compression in the shares. However, Piper still sees a lack of visibility into the extent to which Teva’s new brand assets can drive actual EBITDA growth.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TEVA:
- Corcept (NASDAQ:CORT) Faces Setback in Patent Case; Shares Decline
- HSBC Sees Opportunity in These 2 Biopharma Giants Ahead of the 2024 Elections
- Biogen: EC revokes centralized marketing authorizations for TECFIDERA generics
- Teva initiated with a Buy at HSBC
- Teva, Biolojic in pact for developing therapeutic antibodies for inflamation