Swiss bank UBS has upgraded its recommendation for Israeli drugmaker Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) to Buy from Neutral. UBs has also raised its price target for Teva from $11 to $13. The company is currently trading on Wall Street down 0.86% at $9.80 per share, giving a market cap of $11.006 billion. RELATED ARTICLES Teva signs $125m deal with Royalty Pharma on antipsychotic drug Teva beats on Q3 revenue and raises guidance Teva teams with Sanofi on inflammatory bowel treatment UBS wrote, "Teva is uniquely positioned to undergo a significant transition to a more brand-focused company, which we believe can drive stock outperformance." The analysts added, "Going forward, we anticipate attention shifting to attractive brand assets, where investors get to participate in launch acceleration and pipeline de-risking catalysts." Published by Globes, Israel business news - en.globes.co.il - on November 28, 2023. © Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
