UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Pfizer as Vaccine Pipeline is Under-Appreciated

In a report published Friday, Morgan Stanley analyst David Risinger reiterated an Overweight rating on

, and raised the price target from $34.00 to $36.00. In the report, Morgan Stanley noted, “We believe Pfizer can outperform the pharma group given its potential for positive pipeline news and strategic action. Mgmt is committed to share repurchase and dividend increases. Financial and strategic action should continue to drive shareholder value.” Pfizer closed on Thursday at $31.12.