Teva Pharmaceutical Industries Ltd (TEVA): Bear Stearns upgrades Teva to “Out...

Teva Pharmaceutical Industries Ltd (TEVA)

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Tuesday, 07/10/2007 4:22:44 AM

Tuesday, July 10, 2007 4:22:44 AM

Bear Stearns upgrades Teva to “Outperform”

Bear Stearns: Teva valuation is attractive
Gil Shlomo 9 Jul 07 18:02
http://www.globes.co.il/serveen/globes/docview.asp?did=1000230142&fid=942

Bear Stearns has upgraded Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) to “Outperform” from “Peer perform”, noting that the “valuation is attractive”.

The investment bank says that “in 2007, there are higher margin opportunities for Lotrel and that this should place upside pressure on earnings per share. Generic Lotrel penetration is 58.4% after five weeks, with Teva’s 97.4% generic share moderating at Novartis/Sandoz ramp following its mid-June launch and the entrance of additional competitors after the 180-day exclusivity period ends on November 18.”

Last week, Goldman Sachs gave a very favorable recommendation for Teva.