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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Pfizer

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In a report published Monday, Jefferies & Company reiterated its Buy rating on Pfizer (NYSE: PFE), but slightly lowered its price target from $28.00 to $27.00.

Jefferies noted, “The 5% revenue miss in Q3'12 was forgiven to a degree as Lipitor phasing was partly to blame and EPS was still delivered through financial engineering. Lighter than expected Prevnar-13 and Enbrel sales were more concerning, though we now have the US launches of tofacitinib and hopefully Eliquis within the next 3-6 months to look forward to. New product launches, share repurchases and restructuring drive near term upside in our view.”

Pfizer closed on Friday at $24.16.

Latest Ratings for PFE

DateFirmActionFromTo
Oct 2014JefferiesMaintainsBuy
Aug 2014Deutsche BankInitiates Coverage onBuy
Jul 2014BMO CapitalDowngradesOutperformMarket Perform

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