Oppenheimer Analysts Upgrade Teva Pharmaceutical (NASDAQ: TEVA)
ByEquities research analysts at Oppenheimer Funds upgraded shares of Teva Pharmaceutical(NASDAQ: TEVA) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, with a price target of $65.00 citing the company’s strong Effexor XR launch.
Teva Pharmaceutical Industries Limited (Teva) is a global pharmaceutical company that develops, produces and markets generic drugs covering all treatment categories. The Company has a pharmaceutical business, whose principal products are Copaxone for multiple sclerosis and Azilect for Parkinson’s disease, respiratory products and women’s health products. Teva’s active pharmaceutical ingredient (API) business provides vertical integration to Teva’s own pharmaceutical production. The Company’s global operations are conducted in North America, Europe, Latin America, Asia and Israel. Teva has operations in more than 60 countries, including 38 finished dosage pharmaceutical manufacturing sites in 17 countries, 15 generic research and development (R&D) centers operating mostly within certain manufacturing sites and 21 API manufacturing sites around the world. On January 29, 2009, the Company sold its Israeli animal health product line to Phibro Animal Health Corporation.
Shares of TEVA traded down 0.32% hitting $54.14 during mid-day trading on Thursday.
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