Markets & Finance

CS First Boston Upgrades Teva Pharmaceutical

CS First Boston upgraded Teva Pharmaceutical

(TEVA) to strong buy from buy.

Analyst David Maris says he believes Teva shares offer an excellent near-term trading opportunity. He says the company still remains strong, with revenue and fourth-quarter EPS likely to beat expectations. Maris thinks Teva could exceed his

$0.62 and the consensus $0.61 fourth quarter EPS estimates, which should be driven by the $557.5 million top line forecast.

As for near-term catalysts, he says generic Glucophage is just around the corner, and Teva's earnings report should provide a boost to the shares. Finally, Maris sees $2.36 2002 EPS and

has a $76 price target.

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