TEVA: fallen angel?

By Emerging Money>,

Shutterstock photo

Teva is a great company in a fantastic global space. Emerging markets need generic drugs. But the chart does not reflect this. There has been a lot of noise over TEVA ( quote ) and its lawsuit with Novartis ( NVS , quote ). The stock will be down big today and this may be a great place to take a fresh look. TEVA is trading at just 8.5 times next year's expected earnings, compared to a historical P/E of something like 32 times earnings. The company plans to double its generic drugs business -- a core emerging markets theme -- over the next five years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Stocks: NVS , TEVA

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