Merrill Lynch sees Barr solidifying Teva's 2009-10 growth
Merrill Lynch today reiterated its "Buy" recommendation and $54 price target for Teva.
Merrill Lynch today reiterated its "Buy" recommendation and $54 price target for TEVA reflecting an 18% premium on yesterday's close of $46.77 on Nasdaq. Analysts Greg Gilbert and Haim Israel cut their earnings per share (EPS) forecasts for Teva to $2.69 for 2008 from $2.71. This revised figure does not include any contribution from Teva's acquisition of Barr Pharmaceuticals Inc. (NYSE: BRL). They also cut their EPS forecasts to $3.03 from $3.17 for 2009, but raised their 2010 forecast to $3.68 from $3.60 to account for Barr's contribution.
Gilbert and Israel assume that Teva will complete the Barr takeover during 2009, and that Teva will have to deal with its assumption of Barr's $1.88 billion debt and that Teva will issue $1.3 billion of new debt for the deal.
Merrill Lynch today reiterated its "Buy" recommendation and $54 price target for Teva.
Merrill Lynch today reiterated its "Buy" recommendation and $54 price target for TEVA reflecting an 18% premium on yesterday's close of $46.77 on Nasdaq. Analysts Greg Gilbert and Haim Israel cut their earnings per share (EPS) forecasts for Teva to $2.69 for 2008 from $2.71. This revised figure does not include any contribution from Teva's acquisition of Barr Pharmaceuticals Inc. (NYSE: BRL). They also cut their EPS forecasts to $3.03 from $3.17 for 2009, but raised their 2010 forecast to $3.68 from $3.60 to account for Barr's contribution.
Gilbert and Israel assume that Teva will complete the Barr takeover during 2009, and that Teva will have to deal with its assumption of Barr's $1.88 billion debt and that Teva will issue $1.3 billion of new debt for the deal.
Will accumulate more shares if the stock goes below $45
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