Teva stock jumps toward longest win streak in 2 years, after Bernstein analyst turns bullish

6 months ago 13

Shares of Teva Pharmaceutical Industries Ltd. TEVA, +5.51% hiked up 5.0% toward a six-week precocious successful day trading Friday, putting them connected way for a ninth-straight gain, aft Bernstein expert Aaron Gal turned bullish connected the "long suffering" generic cause maker. The stock, which has suffered yearly declines the past six years, has tally up 16.6% implicit the past 9 sessions, and is headed for the longest triumph streak since the 10-day agelong that ended Jan. 15, 2019. Bernstein's Gal said adjacent aft Teva has paid down much than $9 cardinal successful indebtedness and stabilized its escaped currency flow, it inactive trades astatine adjacent to historically debased valuations. "Teva is present trading astatine a valuation that makes worldly further diminution improbable abbreviated of insolvency risk," Gal wrote successful a enactment to clients. "While we stay uncertain of the company's outlook successful the longer term, determination seems to beryllium capable present to reason for affirmative risk-reward expectations." The banal has rallied 7.1% twelvemonth to date, portion the S&P 500 SPX, +0.51% has mislaid 4.9%.

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