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Teva Pharmaceutical (TEVA) - Get Teva Pharmaceutical Industries Ltd. Report  was rated market perform at BMO with a 12-month target price of $18.

BMO said it was positive on the company's turnaround progress but noted continued headwinds from Copaxone and said base U.S. generics business remain meaningful.

BMO applauded the launches of Ajovy for migraines and Austedo for Huntington's disease, but said that may "not be enough to put the overall company on a solid growth trajectory," analyst Gary Nachman wrote.

Nachman said there was a lack of "visibility on the generic pipeline, where we believe TEVA is behind its peers." He also said it was too soon to call a bottom in U.S. generics.

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The analyst believes Teva's debt of $29 billion likely will continue to "weigh on the stock and prevent any meaningful" business development. 

Headquartered in Petach Tikva, Israel, the pharmaceutical company's shares were trading at $15.61, down 2.41% on Thursday.  

According to FactSet there is one overweight, two buys, 18 holds and two sell ratings on the stock.

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