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Teva: Credit Suisse cuts target price.

(CercleFinance.com) - In a report issued on Monday afternoon, Credit Suisse has cut its price target on Teva Pharmaceuticals from 14 dollars to 8 dollars, while reiterating its "underperformance" view.

The Swiss broker reacted to disappointing Q3 results, coupled with a new profit warning. It also regrets that the conference failed to answer a number of questions and judges the timing of the arrival of a new CEO as "incomprehensible," which occurred the day before.

"The lack of insight is still frustrating," Credit Suisse also said, which also cut its EPS estimates for 2017, 2018 and 2019 to 3.74 dollars, 2.61 dollars and 2.93 dollars respectively. Compared to 3.99 dollars, 3.14 dollars and 3.41 dollars previously.

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