Teva upgraded to Buy from Neutral at UBS

UBS upgraded Teva Pharmaceuticals to Buy from Neutral with a price target of $13, up from $11. Teva is “uniquely positioned to undergo a significant transition” to a more brand focused company, which can drive stock outperformance, the analyst tells investors in a research note. The firm says that while the story in the past several years has been focused on revenue and EBITDA stabilization, going forward it anticipates investor attention shifting to Teva’s “attractive” brand assets, where investors get to participate in launch acceleration an pipeline de-risking catalysts. It believes the stock is is not pricing in the brand transition.