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In a report issued earlier today, Bank of America Merrill Lynch reiterated its Buy rating and $25 price target for Pfizer, Inc.
PFE.
BofA Merrill Lynch said that its decision was “supported by a DCF analysis based on what we view as conservative assumptions, including: (1) slowly eroding revenue base, (2) relatively modest contribution from new launches (we only include launches of products that have been validated in Phase III), (3) minimal cost-cutting beyond the company's announced restructuring programs, and (4) no terminal growth.”
Pfizer, Inc. closed on Friday at $22.56.
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