Jefferies Maintains “Buy” Rating on Pfizer (PFE)
Jefferies reported on Monday that they have reaffirmed a “Buy” rating on biopharmaceutical company, Pfizer Inc.(PFE).
The firm is maintaining a “Buy” rating and $31 price target on PFE. This price target suggests a 12% upside to the stock’s current price of $27.08.
An analyst from the firm commented, “Pfizer management have released significant shareholder value through a heavy campaign of cost saving, capital allocation and asset disposals. We are now getting the first taste of improving R&D returns through the launches of Eliquis and Xeljanz. We expect both assets to beat consensus launch expectations during 2013 and reiterate our Buy rating.”
Looking ahead, Jefferies has raised their EPS estimate for FY2013 from $2.33 to $2.40. For FY2014, the firm estimates EPS of $2.43 from their prior estimate of $2.48.
Pfizer shares were down 29 cents, or -1.06% during Monday afternoon trading. The stock has increased 28% in the past year.
The Bottom Line
Shares of Pfizer Inc.(PFE) have a 3.51% yield, based on Monday’s intraday price of $27.38.
Pfizer Inc.(PFE) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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