CS First Boston Upgrades Teva Pharmaceutical
CS First Boston upgraded Teva Pharmaceutical (TEVA ) to strong buy from buy.
Analyst David Maris says he believes Teva shares offer an excellent near-term trading opportunity. He says the company still remains strong, with revenue and fourth-quarter EPS likely to beat expectations. Maris thinks Teva could exceed his $0.62 and the consensus $0.61 fourth quarter EPS estimates, which should be driven by the $557.5 million top line forecast.
As for near-term catalysts, he says generic Glucophage is just around the corner, and Teva's earnings report should provide a boost to the shares. Finally, Maris sees $2.36 2002 EPS and has a $76 price target.