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Jefferies Raises Pfizer PT, Says Company Has Multiple Ways To Win


Jefferies on Monday issued a report on Pfizer Inc. (NYSE: PFE), raising its price target from $42 to $45. 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 said that peak sales could exceed over $13 billion. There is further upside for Pfizer based on the separation of its 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 closed Friday at $34.25.

Latest Ratings for PFE

Oct 2019ReinstatesNeutral
Aug 2019UpgradesSellHold
Aug 2019MaintainsEqual-Weight

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Posted-In: David Gu Ian Hilliker Jefferies Jeffery Holford Sissi Qiong HaiAnalyst Color Price Target Analyst Ratings


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