UPDATE: Goldman Sachs Raises PT to $32 on Pfizer on Breakup Optionality
Goldman Sachs maintained Pfizer, Inc. (NYSE: PFE) with a Buy rating and raises the price target from $30.00 to $32.00.
Goldman Sachs commented, "PFE reported 4Q12 earnings and gave 2013 financial guidance which included highlighting efforts to optimize both the innovation-driven and value-based businesses as distinct entities. On the conference call, PFE management described the two businesses as already being distinct in developed markets. While the two businesses are intertwined in Emerging Markets – which works well in these high-growth geographies – PFE will consider separating the two business models in these markets as they evolve. This potential move supports our long held view that PFE could unlock substantially greater value by breaking up the business into two separately traded companies."
Pfizer closed at $27.70 on Tuesday.
Latest Ratings for PFE
|May 2016||Berenberg||Initiates Coverage on||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.