Leerink Swann Downgrades Pfizer (PFE) to Market Perform; Major Catalysts Realized
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Price: $25.26 -3.84%
Rating Summary:
13 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
13 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Leerink Swann downgraded Pfizer (NYSE: PFE) from Outperform to Market Perform.
Leerink analyst says, "From here, we believe the upside driver for PFE's EPS expectations is the already announced restructuring and prospect of associated share repurchase as well as the potential to improve total shareholder returns via increases in the dividend (the targeted 40% payout ratio implies avg growth of 7-8% over the next two years). Upside surprises, such as a material delay to a launch of Lipitor by Ranbaxy, are unlikely but would only represent a temporary boost to earnings, in our view. While PFE remains a low-risk defensive story given its massive cash flows, we see limited upside to our pipeline and net income forecasts from here."
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 $19.99 yesterday.
Leerink analyst says, "From here, we believe the upside driver for PFE's EPS expectations is the already announced restructuring and prospect of associated share repurchase as well as the potential to improve total shareholder returns via increases in the dividend (the targeted 40% payout ratio implies avg growth of 7-8% over the next two years). Upside surprises, such as a material delay to a launch of Lipitor by Ranbaxy, are unlikely but would only represent a temporary boost to earnings, in our view. While PFE remains a low-risk defensive story given its massive cash flows, we see limited upside to our pipeline and net income forecasts from here."
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 $19.99 yesterday.
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