Citi Initiates Coverage on Wyeth (WYE) with a Hold
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Citi initiates coverage on Wyeth (NYSE: WYE) with a Hold. Price target $49.
Citi analyst says, "We expect WYE to shift its business model to specialty markets. We see upside to our estimates from limited US generic competition to Zosyn/EffexorXR. The uptake of Pristiq/Restilor & material pipeline setbacks Pristiq-VMS/Viviant/Aprela/bifeprunox will result in deeper Project Impact cost saving initiatives to facilitate its transformation."
Wyeth is engaged in the discovery, development, manufacture, distribution and sale of a line of products in three primary businesses: Wyeth Pharmaceuticals (Pharmaceuticals), Wyeth Consumer Healthcare (Consumer Healthcare), and Fort Dodge Animal Health (Animal Health).
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