Teva Pharmaceutical Industries Ltd.
was upgraded to neutral from underweight by J.P. Morgan. Analysts wrote that they are “fairly bearish on the longer-term setup” for the Israeli drugmaker but noted that the company’s “near-to-mid-term fundamentals are stabilizing.” Sales of Teva’s longtime top-selling drug Copaxone, a multiple sclerosis treatment, stabilized in the third quarter of 2019, and it raised its 2019 guidance for earnings per share and revenue. The company also said that it is moving forward with a global opioid settlement that would resolve pending and potential lawsuits. That agreement in principle was announced in October. Shares of Teva have fallen 40.68% year-to-date but are up 29.63% for the last three months. The S&P 500
has gone up 23% end-to-date.
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