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Teva Shares Rebound on Oppenheimer Upgrade

M. Corey Goldman

Teva stock gained more than 5% on Monday after Oppenheimer analyst Esther Rajavelu upgraded the company to outperform from perform - even as she lowered her price target for the shares to $12 from $17. Shares of Teva plunged last week after UBS downgraded the Israeli pharmaceutical company's stock to neutral from buy and lowered its price target $12 from $22 amid the company's exposure to opioid-related litigation. Teva recently said it had reached an agreement with Oklahoma that includes an $85 million payment to the state - just days before a trial slated for Tuesday over opioid claims made against the drugmaker by the state's attorney general.