Teva Pharmaceutical Industries Ltd (TEVA)

[genisi]

Credit Suisse upgrade

Wednesday June 6, 8:18 am ET

Teva Pharma Shares Rise on Analyst Upgrade and Prediction of Better Sales

NEW YORK (AP) -- Shares of Teva Pharmaceutical Industries Ltd. rose in premarket electronic trading Wednesday after an analyst upgraded the stock, saying new product and generic drugs will increase the company's profits over the next two years.

Credit Suisse analyst Marc Goodman said pain relief drug Oxycontin, asthma inhaler ProAir, a generic version of osteoporosis drug Fosamax and others will help the Israeli company improve its sales. He raised his earnings per share estimates by 8 cents, to $2.34, for 2007, and by 10 cents, to $2.65, for 2008.

"Consensus earnings estimates are too low for 2007 and 2008," Goodman said. He upgraded the stock to "Outperform" from "Neutral," and raised his price target to $48 from $40 per share.

Teva shares gained 42 cents to $39.95 premarket, up from Tuesday's closing price of $39.53. The stock has traded between $29.22 and $40.89 in the last year.