Important Updates for Investors
Carla Pasternak's Premiere Issue of High-Yield International Just
Released
Income expert Carla Pasternak's debut issue of High-Yield
International covers a Taiwanese manufacturer yielding 9.5%... a
rare Mexican monopoly yielding 13.4%... and other top-performing
investments yielding up to 19.0%.
Government's Biofuel Timetable Could Spell +15,900% Growth
+15,900% growth might seem far-fetched... but it's not. In fact, it
is mandated by law. And I've identified the ONLY stock positioned to
capture this growth.
The
Silver Lining to a Falling Dollar
Despite the U.S. national debt, there is a silver lining for income
investors. This massive spending, combined with movement out of U.S.
Treasuries, is going to take its toll on the dollar, and
international income investors could reap the rewards in the form of
higher dividends. |
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| Bargain
Alert -- Teva Pharmaceuticals (TEVA) |
Published: October 6, 2004
Generic drugmaker Teva Pharmaceutical Industries
(TEVA, $24.63) has extended its losses in recent weeks and the stock
is now approaching fresh 52-week lows. The decline has been fueled by an
overall slump in pharmaceutical shares, as well as fears of a potential
Bush victory in the November elections.
The general feeling on Wall Street is that a continued
Bush administration would lead to a regulatory environment more
favorable to patented drugmakers (and as a result, less favorable to
generic firms). However, my staff and I believe these and other
near-term concerns will have little impact on Teva's profitability over
the long haul. And, in stark contrast to many of its patented drug
competitors, we believe this up-and-coming generic bellwether has plenty
of room for further expansion over the next five to ten years. In fact,
the firm should have no trouble posting +20% annual earnings growth
going forward thanks to the following factors:
- Recent Medicare reforms in the U.S. and the strong
push to mandate generic drug use in Europe should lead to tremendous
growth in Teva's core generic market in the years ahead.
- Even if Bush wins the election in November, over
the long haul the dramatically lower cost of generic drugs (combined
with soaring medical costs and tight government budgets) should lead
to a much more generic-friendly regulatory environment.
- The aging U.S. population will fuel continued
strong demand for low-cost drugs.
- Teva's enormous size and expertise, as well as its
access to low-cost pharmaceutical ingredients, should enable it to
compete aggressively on price.
- Between now and 2006 roughly $40 billion worth of
drugs are expected to lose patent protection. This represents the
most rapid schedule of patent expirations the industry has ever
seen.
On the heels of their recent decline, shares of this
long-term winner are now more attractive than ever. TEVA is now trading
at just 15X next year's projected earnings, and with a future growth
rate of +20%, the stock now sports a PEG (P/E to Growth ratio) of well
under 1.0, making it a very compelling value play.
With these factors in mind, bargain-seeking value
investors may want to give TEVA a closer look.
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