China to Play a Key Role in Boosting Pfizer sales by 2012

Goldman Sachs reiterated its buy rating on Pfizer Inc (NYSE: PFE). The 12-month target price for PFE is set to $22.

According to Goldman Sachs, the pharma sector is poised to benefit significantly from the emerging growth markets (EGM), such as China, over the next three to five years. Goldman Sachs believes that the consensus expectations do not reflect this benefit.

Considering PFE’s position in the US Pharma market, the company is best positioned to benefit from this trend, Goldman Sachs said. Goldman expects sales in the EGM to boost Pfizer’s sales by about $3.5 billion by 2012, of which $3 billion may come from China.