© Reuters. BofA extra assured in Teva Pharma (TEVA) after administration conferences
Investor sentiment on Teva Pharma’s (NYSE:) story continues to enhance, in accordance with analysts at BofA, who reiterated a Purchase ranking and $13 per share worth goal on the inventory on Monday.
The analysts defined to traders in a notice that the agency hosted investor conferences with TEVA administration, CEO Richard Francis, and CMO Eric Hughes final week.
“Overall, we felt investor sentiment on TEVA’s story continues to improve with a focus on continued execution and ‘24E validation of the ‘Pivot to Growth’ strategy (where EBITDA growth will be key),” the analysts wrote.
“We came away from the meetings more confident in TEVA’s ability to grow 2024+ EBITDA (BofA: $4.75bn or +5% vs. cons $4.63bn) on the strength of CNS brands, better margins (mix) and the trajectory of global generics.”
Moreover, BofA feels continued execution and determination of small/manageable threat components ought to broaden TEVA’s investor attraction.
TEVA shares are up greater than 1% at $8.80 per share on the time of writing on Monday. The inventory is down round 4% in 2023.
