Following TEVA’s Q3 earnings, Canaccord analyst Randall Stanicky reaffirmed his BUY rating and $52 price target, noting that the stock remains his top idea on what he thinks is “an inflection point both on the stock path . . .”

Following the earnings report Mr. Stanicky noted three key points for investors:

(1) Achievable Q4 EPS that now offers visibility and upside potential. . . “Bottom line, visibility has improved, the bar has been lowered and catalysts lie ahead.

(2) An update on 2012 ahead of year-end that he thinks will come with a new capital allocation philosophy . . . “Many, including us, are seeing a more aggressive share buy-back as prudent at current levels.”

(3) A valuation that is still at a notable discount to pharma. He noted that “When stripping out US Copaxone and looking at TEVA shares relative to big pharma – trading at 10.5x 2013 P/E – TEVA trades at a ~ 20% discount.”