Teva Jumps to Five-Month High in Tel Aviv Closing Gap With U.S.
The stock gained (TEVA) 3.1 percent to 165.60 shekels, the equivalent of $43.10, at 10:35 a.m. in Tel Aviv, the highest intraday level since July 18. The U.S. shares soared 6.8 percent to close at $43.10 yesterday.
RBC Capital Markets LLC said today it is “confident” Teva’s newly appointed chief executive Jeremy Levin will have the ability to “refocus and revitalize” the Petach Tikva, Israel-based company.
“We expect that Dr. Levin will focus the company towards areas of greatest opportunities in the future regardless of whether these exist in the generics or branded business,” RBC analysts wrote in a report today.
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