UPDATE: JP Morgan Raises PT on Pfizer on Takeaways from Meeting with Management
JP Morgan maintained Pfizer (NYSE: PFE) with an Overweight rating and raised the price target from $31.00 to $32.00.
JP Morgan analyst Chris Schott commented, "Overall, we see several interesting assets in Pfizer's pipeline beyond Eliquis and Xeljanz (most notably PD-991) and believe we are beginning to see results from the company's refocused R&D efforts. In addition, we continue to believe that a larger break-up of Pfizer remains a distinct possibility, particularly if the company's core pharmaceutical portfolio is able to generate sustained growth over time."
Pfizer closed at $27.99 on Tuesday.
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