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