�A $45 target price for Teva looks very reasonable�

Leader Capital Markets analyst Yoav Burgan says that the strong momentum in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) makes a $45 target price seem achievable, whereas this target once seemed quite far-fetched. Leader Capital Markets� current target price for the share is $39.

Teva has risen 8% since publishing its financials for 2006 and providing optimistic guidance. The share rose past $38 yesterday on Nasdaq. The analysts� average target price is $42.50, and some have now set a target price of $50.

Burgan notes that Teva provided guidance for 2008 and 2009, which adds to the share�s momentum. Although investors earlier looked at the company�s slow growth before the financials, they are now paying attention to future growth. Teva�s conference call also helped boost the share, thanks to projections for Copaxone sales after the second quarter of 2008. Teva predicts top line growth over the following two years, but no bottom line effect until at least 2010.

Published by Globes [online], Israel business news - www.globes.co.il - on February 21, 2007