Teva Listed as Favorite Generic Pharmaceutical Company
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17.12.09, 09:57
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Financial News
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Globes has reported that investment house RBC lists Israel’s Teva Pharmaceutical Industries Ltd. as its favorite share in the generic pharmaceutical industry, granting it an "Outperform" recommendation.
RBC analyst Adam Greene and associate D. Dewey Steadman stated that Teva is their favorite name because they consider it the best in class pipeline and its strong core business. The analysts also regard Teva's global presence as an earnings growth driver.
The analysts add that biogenerics could be a unique opportunity that has not yet been reflected in Teva's valuation. According to RBC, average earnings per share growth of 16% between 2009 and 2012 are to be expected.
Globes quotes Bloomberg’s assessment according to which of 27 investment houses that follow Teva, 24 recommend to buy the share, and 3 recommend to hold. None recommends selling the share. The average target price is $61.30, a 15.3% premium over its market price.
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By: Rachel Lieberman, Israel Diamond Industry Portal
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