Piper Sandler lowered the firm’s price target on Teva (TEVA) to $29 from $30 and keeps an Overweight rating on the shares ahead of quarterly results. The firm says performance for biopharma in Q2 and into Q3 thus far has seen marked improvement, in part a function of fears surrounding tariff-related dislocation receding into the background, in part a function of fears regarding pricing-related dislocation also receding into the background, and in part a function of an anticipated more favorable rate environment. With that said, Piper believes that choppy waters, or perceptions thereof, will continue to render profitable bigger caps as something of a safer haven.
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