Barclays Capital advises long-term investors to exploit the current weakness in the share price of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA). The bank believes that Teva's share price will jump in the second half of 2011 and in early 2012, and gave it an "Overweight" recommendation with a target price of $70 - 52% above today's opening price on Nasdaq of $46.
Barclays analysts Richard Silver and Ann Trimble say that near-term factors affecting Teva's share price will be its financial report for the first quarter and the related commentary, in the wake of the "atypically disappointing fourth quarter 2010 results". They also mention the company's revenue guidance for the year.
Barclays expects Teva to report earnings per share of $1.01 for the first quarter, $1.17 for the second quarter, and $5.05 for 2011 as a whole.
Teva's share price rose 0.4% at the opening on Nasdaq today to $46.20, giving a market cap of $43.2 billion, rose 0.5% on the TASE to NIS 158.60.
Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2011
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