Free Research: Zacks Report on Teva Pharmaceuticals
Teva Pharmaceutical Industries (TEVA) chief Shlomo Yanai predicts that his generics company can more than double its annual sales to $31 billion by 2015, making it eligible to be one of the top 10 “Big Pharma” companies. Wall Street analysts are mostly bullish on the stock and Moody’s last week boosted the company’s credit rating. Zacks recently raised Teva to Outperform from Neutral with a price target of $65 in a report available for complimentary download.
Highlights:
Teva reported earnings of $0.89 in the third quarter of 2009, up 16% from the year-ago period and a cent above the Zacks Consensus Estimate. Net sales increased 25% to $3.55 billion. Strong sales of Copaxone and the respiratory business helped drive earnings in the reported quarter.
We are impressed with Teva’s strong performance in the first nine months of 2009. We expect Teva to continue posting strong revenues and earnings going forward thanks to new product launches, both generic and branded.
- We are also pleased to see Teva’s progress with its branded and biogenerics pipeline. Biogenerics should help drive growth in the long-term.
- Meanwhile, the acquisition of Barr should help Teva strengthen its position in the U.S. and expand its presence in Europe.
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For latest analyst comments on Teva, see Alacra Pulse.
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