UBS Reiterates Buy on Pfizer (PFE) Following a Meeting with Management
Get Alerts PFE Hot Sheet
Rating Summary:
14 Buy, 19 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
UBS reiterated a Buy rating and $38.00 price target on Pfizer (NYSE: PFE) following a meeting with management. The main topics included the recent decision not to break up, M&A/BD strategy, expenses/operating leverage and CNS remaining an attractive therapeutic area for research.
A UBS analyst commented, "Without breaking up and as one company, mgt pointed to modest top line growth until it gets through two additional LOEs (Viagra and Lyrica). As for the two separate businesses, the CEO believes that investors underappreciate the growth potential for each of them. In the Innovative side, he pointed to the IO assets as growth drivers. And in Essential Health, he pointed to growth from emerging markets, biosimilars, and injectables as well as the opportunity to drive costs down further. Mgt believes that the biggest opportunity to unlock value is in this larger business that has the potential to grow. Since going forward Pfizer will manage the two businesses separately, mgt indicated that there is always the option to separate down the road if valuations or the tax situation change, but it also indicated that it wouldn’t be reviewing this issue on a quarterly basis and wouldn’t be providing any new date for a future decision."
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 $33.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pfizer (PFE) to trim its Haleon stake to 24%
- Matador Resources Company (MTDR) PT Raised to $76 at Mizuho
- China Resources Beer Holdings Co Ltd. (291:HK) (CRHKY) PT Raised to HK$44.67 at Jefferies
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!