Teva Pharmaceutical (TEVA) has been initiated today with coverage from the research analysts at Argus. Argus begins this new coverage of TEVA with an initial price target set at $58 dollars and rates performance of TEVA as “buy” Argus noted that Teva plans on acquiring CEPH which will boost its position as a high margin company in their business sector of pharmaceutical companies.
TEVA is a prime example of what whipsaw trends and price action looks like. TEVA entered 2011 trading after experiencing massive consolidation throughout 2010. Overall sentiment underlying TEVA is bearish, and today’s coverage initiation at Argus with their buy rating did little to move shares of TEVA with any definitive direction and in fact closed at the same price where it entered.
Teva Pharmaceutical is slated to release their next earnings report on July 27th, 2011, and is estimated to post EPS of $1.09. Their last earnings report was released on May 11th, 2011, and announced EPS of $1.04 with revenue totaling $4.080 billion which was up 11.7% year to year. TEVA is currently trading between its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Teva Pharmaceutical Industries Limited is a global pharmaceutical company that develops, produces and markets generic drugs in all major therapeutic categories. The company has market capitalization of $43,962,390,000 and 893,000,000 shares outstanding. TEVA has a 52-week high of $57.08 with the low being $44.86 dollars.
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