Teva Is Due For A Substantial Re-Rating

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About: Teva Pharmaceutical Industries Limited (TEVA)
by: Early Retiree
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Early Retiree
Research analyst, value, small-cap, retirement and income
Summary

Thanks to its debt offering, a heavily dilutive equity issuance has become very unlikely.

The upsized offering also highlights that debt markets are not seeing a large bankruptcy risk.

The only remaining substantial threat is the opioid litigation, and things are looking much better recently.

In my recent article "Opioids For All, But Not For Mr. Market", I expected the stock market to calm down soon and find a more rational perspective on Teva Pharmaceutical (TEVA).