Credit Suisse Takes Teva Rating To Neutral In Third Upgrade Of Day

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Credit Suisse analyst Vamil Divan upgraded earlier today Teva Pharmaceutical (TEVA) to Neutral from Underperform and raised his price target for the shares to $20.

Following a Goldman Sachs upgrade to Buy and a Morgan Stanley upgrade to Equal Weight, the stock in morning trading is up 7%, or $1.29, to $18.59.

The analyst expects investor sentiment to improve as new CEO Kare Schultz executes on his turnaround plan. Divan finds the announced restructuring plan, as well as Schultz's prior track record at Lundbeck, encouraging.

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