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UPDATE: Jefferies Downgrades Pfizer on Challenges Ahead

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In a report published Friday, Jefferies analyst Jeffrey Holford downgraded the rating on Pfizer (NYSE: PFE) from Buy to Hold, and lowered the price target from $32.00 to $30.00.

In the report, Jefferies noted, “Rising rate expectations had the expected impact on the sector, which has been driven by income investors over the past two years. Q2'13 earnings look tough in this context and we expect most companies to see some pressure. Novartis, Sanofi, Roche, Abbott, AbbVie and Bayer remain high conviction Buy ideas. We have downgraded Bristol-Myers and Pfizer to Hold in this report as part of our update today.”

Pfizer closed on Thursday at $28.44.

Latest Ratings for PFE

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

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View the Latest Analyst Ratings

Posted-In: Jefferies Jeffrey HolfordAnalyst Color Downgrades Analyst Ratings

 

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