Citigroup Slaps $70 Price Target on Teva, Highest on Street

On Tuesday, Citigroup raised the price target for Teva Pharmaceuticals (NASDAQ: TEVA) from $60 to $70.

Copaxone is a “largely sustainable franchise” for the near-to-medium term, due to a favorable ruling from the U.S. Supreme Court regarding generic drug delay, said analyst Liav Abraham.

Shares of Teva are down modestly in Tuesday's trading after gaining 7 percent on Monday.

Abraham's $70 price target, which is the highest on the street by $5, represents 33 percent upside from current levels.