Morgan Stanley maintained Pfizer PFE with a Overweight and raised the price target from $27.00 to $31.00.
Morgan Stanley noted, "Pfizer's FCF yield is attractive at 8%. Raising PT from $27 to $31 based upon greater long-term pipeline contribution and thus more optimistic DCF (changed terminal growth from -3% to -2%). We expect fin'l action to enhance shareholder value. … Prevnar-13 adult (pneumococcal vaccine) CAPITA outcomes study completes in August; positive results could result in routine vaccination in adults and significantly boost adoption. Encouraging CDK inhibitor (“991”) breast cancer data is likely in Dec."
Pfizer closed at $28.12 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in