Citi analyst Liav Abraham upgraded Teva Pharmaceutical (TEVA) to Buy and raised her price target for the shares to $24 from $16. The drugmaker closed yesterday up 2c to $19.13.
The analyst “more constructive” on the Specialty Pharma group heading into 2018. More realistic expectations, along with pipeline catalysts set the stage for a potential inflection point for some of the stocks in 2018, Abraham tells investors in a research note on the sector. She believes Teva’s risk/reward profile that is skewed to the upside over the near to medium as management executes on the recently announced cost cuts.
Mylan (MYL) is Abraham’s top pick for 2018.
