Over the past few weeks, analysts in Israel and worldwide have vigilantly followed Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) share price after the hard blow it received by the threat of generic versions of its flagship product - multiple sclerosis treatment Copaxone.

Psagot Investment House Ltd. Research department today published a special survey of the topic focusing on the share price. Psagot has kept the share's "Buy" recommendation but cut the target price.

Psagot said, "There is no certainty ...... Teva can also continue to show growth in the second half of the decade."

Consequently, Psagot lowered its prediction for Teva's long term growth from 2.5% to 2% and cut its target share price from $72 to $62.

Teva's share price closed at $49.85 on the Nasdaq on Friday, giving a market cap of $44.77 billion. Thus, even after the cut, Teva's current share price is 25% below Psagot's new target price.

In afternoon trading on the TASE, Teva's share price was up 0.1% at NIS 189.20.

Published by Globes, Israel business news - www.globes-online.com - on August 9, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010