Bank Of America Ups PT To $25 On PFE
Bank of America has raised its price target on Pfizer Inc. (NYSE: OFE) to $25 as it reiterates a Buy rating on the stock.
Says Bank of America, in its report, “With each of the 4 US Major Pharma stocks beating Q1 results and investors beginning to warm up to our "the world is not ending" valuation-based thesis, we are reiterating our bullish view on the sector and raising our price targets. Recall that when we launched on March 11th (“Reinstating with a Buy – Still some low- hanging fruit”), we did so with a Buy rating on PFE. PFE still offers compelling valuation, an attractive dividend, and the potential for the ongoing strategic review to lead to actions that could enhance value. Pipeline progress and smart business development deals are also key to our thesis.”
PFE closed at $20.92 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.