Jefferies Maintains a 'Buy' on Pfizer (PFE); First Half Sweet Spot Ahead of H2'12 Pipeline Casino
PFE Hot Sheet
Rating Summary:13 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Jefferies maintains a 'Buy' on Pfizer (NYSE: PFE) price target raised from $25 to $26.
Jefferies analyst said, "We see strong potential for outperformance in H1'12 driven by the likely approval of a best-in-class label for Eliquis and increasing visibility on the Animal Health and Nutrition disposals. We have become incrementally concerned over tofacitinib's safety profile recently and see asymmetric downside risk for an on-time approval. Meanwhile, bapineuzumab provides substantial positive asymmetry versus our current assumptions."
"Management lowered 2012 Non-GAAP EPS guidance to $2.20-$2.30 (prior $2.25-$2.35) due to FX headwinds. Our updated 2012E estimates for revenue and Non-GAAP EPS are $63.46bn (Cons. $62.98bn) and $2.27 (Cons. $2.30; guidance $2.20 - $2.30), respectively."
For an analyst ratings summary and ratings history on Pfizer click here. For more ratings news on Pfizer click here.
Shares of Pfizer closed at $21.11 yesterday, with a 52 week range of $16.63-$22.17.
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Jefferies analyst said, "We see strong potential for outperformance in H1'12 driven by the likely approval of a best-in-class label for Eliquis and increasing visibility on the Animal Health and Nutrition disposals. We have become incrementally concerned over tofacitinib's safety profile recently and see asymmetric downside risk for an on-time approval. Meanwhile, bapineuzumab provides substantial positive asymmetry versus our current assumptions."
"Management lowered 2012 Non-GAAP EPS guidance to $2.20-$2.30 (prior $2.25-$2.35) due to FX headwinds. Our updated 2012E estimates for revenue and Non-GAAP EPS are $63.46bn (Cons. $62.98bn) and $2.27 (Cons. $2.30; guidance $2.20 - $2.30), respectively."
For an analyst ratings summary and ratings history on Pfizer click here. For more ratings news on Pfizer click here.
Shares of Pfizer closed at $21.11 yesterday, with a 52 week range of $16.63-$22.17.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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