Goldman Warns of Teva Selloff as Copaxone Threat Looms
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Teva Pharmaceutical Industries Ltd.’s best quarterly rally since 2003 prompted analysts at Goldman Sachs Group Inc. to abandon their sell rating on the stock earlier this year. Now they’re telling investors to buy insurance against a potential plunge in the shares.
Petach Tikva, Israel-based Teva, the world’s largest generic drug maker, has soared 29 percent this year to $51.77, the best performance on the Bloomberg Israel-US Equity Index. In Tel Aviv today, shares rose 1.8 percent to 179.30 shekels ($51.45), nearing their highest close since April 22.