Morgan Stanley says buy Teva because its turnaround is still in the ‘early innings’

Investing News

Investors should buy shares of Teva Pharmaceutical Industries as the company’s turnaround picks up steam, Morgan Stanley analyst David Risinger said Monday.

Risinger upgraded the stock to overweight from equal weight. He also hiked his price target on the stock to $27 a share, implying a 19.5 percent upside from the stock’s close on Friday. Teva traded around $22.75 on Monday.

“We expect continued improvement in Teva’s financials and investor perception,” Risinger said in a note to clients. “Recall that Teva is just a year into its 3-year restructuring plan, and 25% EBITDA upside in 3Q gave us greater confidence that Teva can deliver additional cost cutting and earnings surprise in coming years.”

Products You May Like

Articles You May Like

Disney+ Changes the DIS Stock Narrative in a Really Big Way
3 Big Stock Charts for Thursday: Discovery, Norfolk Southern and Bristol-Myers Squibb
Expect Boeing Stock to Have an Awful 2019 Before Bouncing Back
A controversial part of Robinhood’s business tripled in sales thanks to high-frequency trading firms
Maybe inflation is not dead as many major companies say they are raising prices

Leave a Reply

Your email address will not be published. Required fields are marked *