Teva Pharmaceutical Industries

TEVA · TEL

$40.85−$0.46 (−1.11%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $41.31

TEVA analyst rating

BuyConsensus of 10 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy10
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $0.1347 (−99.7% downside)

Low: $0.1074
Now: $40.85
High: $0.1692

Upgrades and downgrades

The latest rating actions, newest first

TEVA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 15, 2026	Maintains	Overweight	$42.00 → $47.00	53%
JP Morgan	Oct 12, 2026	Maintains	Overweight	$40.00 → $50.00	65%
TD Cowen	Oct 1, 2026	Initiates	Buy	$55.00	27%
Oppenheimer	Sep 23, 2026	Initiates	Outperform	$50.00	59%
Leerink Partners	Sep 9, 2026	Initiates	Outperform	$45.00	58%
UBS	Sep 4, 2026	Maintains	Buy	$42.00 → $48.00	56%
Barclays	Aug 12, 2026	Maintains	Overweight	$40.00 → $42.00	53%
Piper Sandler	Jul 28, 2026	Maintains	Overweight	$42.00 → $44.00	68%
Barclays	May 6, 2026	Maintains	Overweight	$38.00 → $40.00	53%
JP Morgan	Apr 30, 2026	Maintains	Overweight	$35.00 → $40.00	65%

The case for and against

Updated Oct 21, 2026

Bull case

Teva Pharmaceutical Indus is viewed positively because its Pivot to Growth strategy is steadily shifting the business toward higher-margin branded medicines while preserving a resilient generics and biosimilars base. AUSTEDO, UZEDY, and AJOVY are showing strong commercial momentum, and management sees $16.4B-$16.8B of 2026 revenue with net debt/EBITDA at 2.4x, while margin expansion is supported by a richer branded mix and about 300bp of gross margin expansion from 2026-2029. The outlook is further strengthened by a deep pipeline, including duvakitug, LAI olanzapine, ecopipam, and TEV-‘408, which could add meaningful growth and help sustain earnings upside beyond near-term AUSTEDO pricing pressure.

Bear case

Teva Pharmaceutical Indus is viewed negatively because its upside depends on several unproven assumptions across both innovative drugs and the core generics franchise, including duvakitug, AUSTEDO, and the olanzapine LAI launch. Weak Phase 3 outcomes, a restrictive label, slower market growth, or share loss could pressure sales, margins, and cash flow, while the company’s base business also faces headwinds if it fails to double biosimilar revenue by 2027 and recover after the Revlimid impact. In addition, material opioid, price-fixing, and environmental contingencies could derail deleveraging, even as management recently achieved investment grade ratings from Moody’s on August 11, 2026 and from S&P on September 4, 2026.

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