Market Overview

UPDATE: JP Morgan Raises PT to $29 on Pfizer Following PD-991 Phase II Data

Share:
Related PFE
Pfizer Gets OK On Drug For Rare Lung Disorder
Pfizer Announces $3M Grants Program to Further Clinical Research in Advanced Breast Cancer
Wall Street Breakfast: Here Comes The GDP Revision (Seeking Alpha)

JP Morgan reiterated Pfizer (NYSE: PFE) at Overweight and increased its price target from $28 to $29.

JP Morgan commented, "Following last week's phase II data for PD-991 in breast cancer and further feedback from physicians, we believe the product represents the most promising of Pfizer's next-generation pipeline assets, and we are incorporating it into our model. We see PD-991 as a multi-billion product opportunity, addressing a large segment of the breast cancer market (first-line advanced/metastatic HER2-/ER+) with few treatment options. More broadly, we believe PFE shares remain positioned to outperform as the company continues with its business unit divestiture process, returns significant capital to shareholders, and enters an attractive new product launch cycle."

Pfizer closed at $25.51 on Wednesday.

Latest Ratings for PFE

DateFirmActionFromTo
Apr 2015Deutsche BankMaintainsBuy
Apr 2015JP MorganMaintainsOverweight
Mar 2015JefferiesMaintainsBuy

View More Analyst Ratings for PFE
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (PFE)

Around the Web, We're Loving...