Teva Pharmaceutical Industries Ltd ADR

TEVA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$14.80	Gpwfh	Tfrwnhmn

Teva Earnings: Robust Gains From Austedo and Ajovy Fuel Sales Growth and Boost Margin

Keonhee Kim

Aug 3, 2023

No-moat Teva reported second-quarter earnings that were slightly ahead of our expectations. Total sales were up 2.4% year over year, driven by strong performance from Teva’s key innovative medicines. We are raising our fair value estimate to $11 from $10.50 after baking in impacts from our raised near-term outlook as well as time value of money.

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