Jefferies increases their price target of Pfizer saying that that pharmaceutical company has multiple ways to win

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On Monday Jefferies issued a report on Pfizer Inc.
PFE
raising their price target from $42 to $45. Currently Jefferies rates Pfizer as a Buy. Analysts Jeffrey Holland, David Gu, Ian Hilliker, and Sissi Qiong Hai wrote, "We expect Pfizer shares to significantly appreciate over the next 1-2 years based on a better than expected launch of Ibrance, greater appreciation of the durable growth on offer in GEP, further accretive and potentially tax-driven M&A, and the separation of GEP by 2017 at a minimum from the rest of the business. Early surveys show that Ibrance will beat consensus revenue estimates as it is expected to be one of the fastest oncology product launches ever. Jefferies says that peak sales could exceed over $13 billion. There is further upside for Pfizer based on the separation of their Global Established Product business line, which should crystallize current hidden value along with the use of cash for M&A and tax-driven deals for both the innovative and value sides of the business. Pfizer Inc. closed Friday at $34.25.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsDavid GuIan HillikerJefferiesJeffery HolfordSissi Qiong Hai
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