12:45 AM EDT, 04/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We adjust our target price by $2 to $14, reflecting 5.8x our 2024 EPS forecast. This is higher than its 5-year historical forward average of 3.9x as we expect the Pivot to Growth strategy to help support its growth prospects (vs. declining earnings trend historically), but at a discount to its 10-year historical forward average of 6.5x to reflect Teva's higher leverage vs historical. We forecast revenue to increase to $15.9 billion in 2024 to be driven by the strong growth in key products AUSTEDO and AJOVY, and non-GAAP operating income margin of around 27% (2023: 27.5%) with the favorable portfolio mix (higher sales of AUSTEDO and AJOVY) partly cushioning higher R&D spend (as Teva continues to progress pipeline, in line with its strategy to position the business for long term growth). We keep our EPS estimates of $2.43 for 2024 and $2.58 for 2025.