Piper Jaffray Highlights Pfizer (PFE) Amid Brexit Carnage

In the wake of Brexit, Piper Jaffray analyst Richard Purkiss highlighted Pfizer (NYSE: PFE) as having a compelling trio: high yield, low PEG with upside to consensus.

Purkiss commented, "It is likely too early to anticipate the full consequences of the Brexit storm that has just hit financial markets. We have tried to identify amongst our coverage group key attributes necessary to not just weather the storm in the short-term but also thrive in the mid/ long-term. Pfizer's mix of high dividend yield (3.5%) with a low PEG (1.5x) relative to its large-cap pharma peers (average 1.9x) as well as upside potential to forward earnings consensus driven largely by the high-growth breast cancer drug, Ibrance, provides both near-term protection as well as the likelihood of substantial capital appreciation in the mid/long-term"

The firm reiterated an Overweight rating and price target of $54.

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 $33.97 yesterday.

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