Stock Picks – Teva Pharmaceutical-TEVA

by Sam Collins | February 10, 2010 3:11 am

 

Teva Pharmaceutical (TEVA[1]) – This worldwide pharmaceutical company known for its biogenerics and active pharmaceutical ingredients (APIs) has been in a bull market since 1999. 

 

Its powerful advance makes it an institutional favorite, so whenever it falls to its 50-day moving average, buyers seem to rush to the stock.

The recent pullback to the 50-day moving average resulted in the normal buying, but shoved it from a small flag that tells us that the advance will more than likely continue with a target in the mid-$60s or higher.

S&P rated TEVA a “five-star strong buy” with a price objective of $70.

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