A Perfect Storm Of Negative Headlines And Analyst Downgrades Has Created A Buying Opportunity
After an already severe punishment in the past couple of weeks, Teva Pharmaceutical Industries (TEVA) took another beating of nearly 10% on May 30, after Jason Gerberry, an analyst at Bank of America Merrill Lynch, downgraded the stock and changed the price target from $19 to $9 per share. This analyst call appears very late, and also appears to be overly negative, along with the market.
A number of analysts have downgraded Teva Pharmaceutical Industries' shares in recent days