J.P. Morgan analyst Chris Schott has maintained their bullish stance on TEVA stock, giving a Buy rating on May 22.
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Chris Schott has given his Buy rating due to a combination of factors that suggest a positive outlook for Teva Pharmaceutical. The company has initiated a significant $700 million cost-cutting program, which is expected to enhance its margin structure and provide greater clarity on its financial performance in the coming years. This initiative, alongside anticipated growth from its branded pipeline, positions Teva well for future success.
Furthermore, Teva’s pipeline includes promising products such as duvakitug and olanzapine LAI, which are projected to generate substantial revenue. The company’s efforts in expanding its research and development portfolio, including advancements in its ICS/SABA program and other early-stage assets, further support the potential for accelerated growth. These strategic moves, coupled with the company’s ability to manage price cuts and competition, underpin Schott’s optimistic view on Teva’s stock.
In another report released on May 22, Bank of America Securities also maintained a Buy rating on the stock with a $22.00 price target.