Israeli drug maker Teva Pharmaceutical Industries Ltd (
) on Friday caught some tepid commentary from analysts at Needham
The firm maintained its "Hold" rating on TEVA but lowered its
2012 EPS estimate from $5.59 to $5.34, and its 2013 EPS estimate
from $6.01 to $5.70.
A Needham analyst commented, "A quick two weeks post effectively
withdrawing 2012 financial guidance, new Teva management emerged
with updated near-term financial objectives that while differing
only marginally from prior guidance in the aggregate, clearly set a
floor under the 'how bad can it be' thinking that has hung over
shares post 1Q12 results. Given current state of sentiment in the
name with shares plunging the depths of oversold territory reached
on only four occasions in the past decade, a reflex rally is
overdue though key structural overhangs, longer-term opacity on
evolution of growth initiatives and revamping of strategic
priorities, we find little compelling reason to support a
significant fundamental outperformance thesis."
Teva shares were unchanged in premarket trading Friday.
The Bottom Line
Shares of Teva Pharmaceuticals (
) have a 2.77% dividend yield, based on last night's closing stock
price of $38.69. The stock has technical support in the $35-$36
price area. If the shares can firm up, we see overhead resistance
around the $42 price level.
Teva Pharmaceutical Industries Ltd (
)is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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