Catching up the big decline in the stock, Citi’s Liav Abraham slashes her price target on Teva (NYSE:TEVA) to $13 from $23. While still expecting a global settlement over opioid painkillers, the timing is difficult to predict, she says. At current levels, the stock has priced in liabilities of $5B-$20B.
Also cutting her price target in Mizuho’s Irina Koffler – to $11 from $18. She remains at Neutral on the stock.
The Quant Rating pulls no punches, giving Teva a Very Bearish outlook.
Shares are off a couple of pennies in premarket action.
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