Teva selloff brings good entry point, says UBS

UBS walked away from meetings with Teva (TEVA) management confident that the firm’s bullish thesis with a Street-high price target of $26 is intact. The shares have lost $1.3B of market cap post the Q3 update, despite a solid beat and raise, on “unfounded” TL1a data concerns, the analyst tells investors in a research note. UBS says management was emphatic that the company can maintain the timeline for API divestiture in the first half of 2025. It keeps a Buy rating on the stock with a $26 price target