UPDATE: JP Morgan Raises PT to $32 on Pfizer on Takeaways from Meeting with Management

JP Morgan maintained Pfizer

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.