Teva Pharmaceutical Industries "buy," target price raised

12/12/05 - WR Hambrecht & Co

NEW YORK, December 12 (newratings.com) – Analysts at WR Hambrecht reiterate their "buy" rating on Teva Pharmaceutical Industries (TEVA). The target price has been raised from $44 to $50.

In a research note published this morning, the analysts mention that there is upside to the expectations for the company’s performance in 2006. Teva Pharmaceutical Industries is likely to be able to sustain more than 20% growth over the forthcoming three years, given two new generic opportunities, the Aricept patent challenge that is likely to result in the market launch of a generic in mid-2008 and the generic Provigil settlement, according to which the company would receive royalty on sales.