Teva price target raised to $25 from $23 at BofA

BofA raised the firm’s price target on Teva (TEVA) to $25 from $23 and keeps a Buy rating on the shares. The price target increase reflects the strong Phase 2 update for duvakitug as a treatment for inflammatory bowel disorders, the analyst tells investors in a research note. The firm now forecasts nominal peak sales of roughly $2B, with Teva booking half the profits, based on the strength of the data and the emerging product profile.