Soleil Securities Reiterates a 'Buy' on Pfizer (PFE); Recent Pullback Provides Opportunity Ahead of Catalysts

November 2, 2009 8:41 AM EST

Soleil Securities reiterates a 'Buy' on Pfizer (NYSE: PFE), price target $20.

Soleil analyst says, "PFE is down approximately 8% since releasing solid Q3'09 results on Tuesday, October 20 (vs. S&P 500 down 5% and AMEX Drug Index down 3.5%), despite no change in fundamentals. We believe this transient weakness affords long-term investors an attractive entry point into the stock...We have updated our model to reflect the current run rates, prescription trends, guidance, and Wyeth products. Our 2009 EPS is $2.06, and our 2010 EPS projection is $2.24, implying 9% growth. With Q3' results and the close of the WYE acquisition behind us, we believe that the next significant catalysts will be a December decision on the dividend (currently at $0.64, consensus at $0.70 - $0.72 for 2010) and 2010 guidance to be issued in January...We continue to believe that the integration will proceed ahead of the stated goal of $4 billion in synergies, and that 2010 will see the benefit of improved operating efficiencies at the combined company."

To see more analyst ratings on PFE Click Here.

Pfizer Inc. engages in the discovery, development, manufacture, and marketing of prescription medicines for humans and animals worldwide.

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