Why Teva Pharmaceuticals Stock Blasted 6% Higher Today
A positive change in recommendation from a well-known bank was the fuel propelling Teva Pharmaceutical Industries's (NYSE: TEVA) well higher on Monday. The company, known for being a top producer of generic drugs, saw its share price swell almost 6% as a result. That was good enough to beat even the very frothy S 500's (SNPINDEX: ^GSPC) 3.3% gain that trading session.
The person behind the modification was JPMorgan Chase analyst Chris Schott, who pushed up his Teva stock recommendation one notch from neutral to overweight (read: buy). He also bumped his price target higher, from $21 per share to $23. The new level anticipates upside of 28% on the most recent closing stock price.
Image source: Getty Images.
Source Fool.com
JPMorgan Chase & Co. Stock
€245.45
-0.570%
With 37 Buy predictions and 3 Sell predictions JPMorgan Chase & Co. is one of the favorites of our community.
As a result the target price of 263 € shows a slightly positive potential of 7.15% compared to the current price of 245.45 € for JPMorgan Chase & Co..
