JPMorgan analyst Chris Schott upgraded Teva (TEVA) to Overweight from Neutral with a price target of $23, up from $21. The firm says the company’s recently announced cost-cutting program provides “much-needed clarity” on the drivers of its margin expansion in 2026 and 2027. Teva’s margin trajectory had been a primary concern on the story as the company works through the step down in generic Revlimid while also needing to invest behind its pipeline, the analyst tells investors in a research note. JPMorgan now sees Teva’s growth improving significantly as it looks out to 2027 and beyond driven by the company’s branded business including Austedo.
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