Teva Pharmaceuticals (TEVA) Stock Gaining, Announces Bond Sale
NEW YORK (TheStreet) -- Shares of Teva Pharmaceuticals (TEVA) - Get Report are advancing 0.94% to $54.97 today after the company announced it would complete a bond sale next week, Reuters reports.
Teva plans on raising $20-$25 billion in the transaction to finance part of its $40.5 billion acquisition of Allergan's (AGN) generics business, which CEO Erez Vigodman said yesterday should close any day.
The deal was announced last July and was initially expected to close in June 2016, but antitrust concerns have slowed the sale.
The company also gave an upbeat revenue forecast for the second quarter yesterday at $4.9-$5 billion, vs. previous estimates of $4.8-$4.9 billion.
Teva is a global pharmaceutical company based in Israel.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its increase in net income, attractive valuation levels, expanding profit margins, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. TheStreet Ratings feels its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: TEVA
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.