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Truist Securities launched its coverage of Teva Pharmaceutical (NYSE:TEVA) with a Buy recommendation on Wednesday, citing its long-term growth strategy as the generic drugmaker prepares to host its Innovation & Strategy Day on May 29.
Analyst Les Sulewski issued a $25 per share target on the Israeli firm, urging investors to “accumulate” its stock, which she said is trading 25% lower than its recent peak.
“Teva’s dual focus on cultivating its high-margin brands while strengthening generics continues to de-risk topline and margin profile,” Bloomberg reported, quoting Sulewski.
“We look forward to hearing the next chapter for growth outlined in the company’s upcoming Innovation and Strategy Day on May 29, when we anticipate management to introduce an updated 5-year outlook, both figurative and thematic.”
Wall Street has a Strong Buy rating on Teva (NYSE:TEVA) stock, while Seeking Alpha author ratings indicate it as a Buy. However, SA’s Quant System, which consistently beats the market, rated TEVA as a Hold.
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