Teva Pharmaceutical Industries Ltd (TEVA)

[genisi]

[IBI joins the chorus in praise to TEVA]

IBI raises Teva price target

Teva will publish its second quarter financials on August 1.

Amir Keidan 22 Jul 07 16:24

IBI Investment House Ltd. has released an upbeat report on Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), which is due to publish its second quarter financials on August 1. IBI analyst Noa Weisberg raised her target price for Teva from $45 to $54, and reiterated her “Buy” recommendation, in a report entitled “The biggest risk is to be outside”.

IBI predicts that Teva will post earnings per share (EPS) of $0.55 for the second quarter, and adds that the company will have to post EPS of $1.10-1.19 for the second half of the year to meet its full-year guidance. The investment house concludes, “We believe that Teva can easily surpass this target.”

IBI predicts that Teva’s share performance will continue to improve during the second half of 2007. “Political pressure to lower healthcare spending will encourage generics. Discussions about biogenerics will continue, and even though it seems that at the start of the discussions, the generics did not have the upper hand, we believe that by 2010 the regulators will reach an arrangement that will encourage the entry of biogenerics by making it worthwhile to develop biogeneric alternatives while keeping fair conditions for the activity of biotechnology companies.”

Published by Globes [online], Israel business news - www.globes.co.il - on July 22, 2007