Teva Pharmaceutical Industries (NASDAQ:TEVA) Ltd is uniquely positioned to undergo a significant transition to a more brand focused company that should drive outperformance of its stock price, according to UBS analysts.
In an update to clients, they upgraded Teva stock to ‘Buy’ from ‘Neutral’, while raising its price target by 37% to $13 per share, believing the stock is not pricing in the company’s brand transition.
Black Friday 2023 in the video game space differed from previous years as there was ample inventory of high-end consoles from Microsoft Corporation (NASDAQ:MSFT) and Sony Group Corp (NYSE:SONY), according to analysts at Wedbush.
They also pointed to greater variety, with more bundle options for the current generation of consoles than they have seen since before the 2020 refresh, and an underwhelming software slate that lacked a clear leader.
Roivant Sciences stock moved lower on Monday after the biopharmaceutical company announced that its lupus therapeutic oral brepocitinib failed to meet the primary endpoint in a Phase 2 study.
The company said it plans to continue progressing the drug in other indications outside of Systemic Lupus Erythematosus (SLE) given its favorable safety and tolerability profile, six other positive Phase 2 studies, and the active arm performance of this study.
Xenon Pharma shares moved higher on Monday despite the Vancouver, British Columbia neurology-focused biopharmaceutical company reporting that its investigational therapeutic for major depressive disorder (MDD) failed to meet the primary endpoint of a Phase 2 study.
The study evaluated the efficacy, safety and tolerability of 10 mg and 20 mg of XEN1101 in patients with MDD.
Franchise Brands has ambitions to become a £1bn market cap business, according to Stifel, which recently hosted executive chairman Stephen Hemsley for a fireside chat.
Hemsley made his ambitions clear, said Stifel, namely to replicate his success at Domino's Pizza Group.
Weaker second-quarter sales and a downbeat second-half outlook disguised much of the potential from the Burberry brand turnaround, according to Deutsche Bank.
The new Daniel Lee-designed product is still at an early stage and has only been in stories since the beginning of September.
AstraZeneca PLC (LSE:AZN) fell 0.9% as analysts at Jefferies trimmed estimates and argued that clarity on margins may be needed for further stock upside.
The broker has a 'buy' rating on the Anglo-Swedish drugs maker but lowered its price target to 12,500p from 13,000p, as well as cutting EPS estimates by up to 5%.
BP PLC (LSE:BP.) has received a share price target upgrade from Canadian bank RBC, which suggests the recent beating has gone far enough.
Two disappointing sets of results and the departure of its chief executive have, understandably, left investors a little unsure of what is going on at the oil and gas giant.
Ferrari (NYSE:RACE) and Aston Martin Lagonda Global Holdings PLC (LSE:AML) are among preferred European auto sector stocks as the market looks to be normalising, according to Barclays analysts.
Looking ahead to 2024, Barclays said in a note that normalising market conditions mean high earnings from original equipment manufacturers are unlikely to carry through.
Johnson Matthey PLC (LSE:JMAT)'s has a far better cah flow profile than its valuation indicates, according to analysts at Bank of America.
The bank has upgraded the firm, which was recently demoted to the FTSE 250, to 'buy' and increased its price target to 2,000p from 1,600p.
Goldman Sachs (NYSE:GS) has admitted getting it wrong on Entain PLC (LSE:ENT), the owner of Ladbrokes and Coral.
The investment bank has double-downgraded the betting operator to ‘sell’ from ‘buy’ and slashed its price target to 820p from 1,450p.