In a recent development, Teva Pharmaceutical Industries (TEVA, Financial) received a significant upgrade from JP Morgan. The leading financial services firm has adjusted its rating on TEVA from "Neutral" to "Overweight", signaling a positive outlook on the stock's performance.
Additionally, analyst Chris Schott from JP Morgan has raised the price target for TEVA. The new price target is set at $23.00 USD, which marks a 9.52% increase from the previous target of $21.00 USD. This adjustment reflects increased confidence in TEVA's potential market performance.
The revision comes amid optimistic projections for the company's strategic initiatives and growth potential in the pharmaceutical industry. Investors will be keenly observing TEVA's stock movements following this prominent upgrade.
This update is likely to have a favorable impact on investor sentiments, given the influential status of JP Morgan's recommendations in the market. The decision to raise the price target and upgrade the rating underscores the firm's positive assessment of TEVA's future.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Teva Pharmaceutical Industries Ltd (TEVA, Financial) is $22.85 with a high estimate of $30.00 and a low estimate of $18.07. The average target implies an upside of 34.94% from the current price of $16.93. More detailed estimate data can be found on the Teva Pharmaceutical Industries Ltd (TEVA) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Teva Pharmaceutical Industries Ltd's (TEVA, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Teva Pharmaceutical Industries Ltd (TEVA, Financial) in one year is $10.71, suggesting a downside of 36.74% from the current price of $16.93. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Teva Pharmaceutical Industries Ltd (TEVA) Summary page.
