Goldman Sachs Added Pfizer (PFE) to Conviction Buy List, Sees 26% Upside

Goldman Sachs added Pfizer (NYSE: PFE) to its Conviction Buy with a price target of $22, suggesting 26% upside.

The firm cited: (1) a dynamic management team that has shown commitment to delivering value to shareholders though announced spin-offs/divestitures and dividends/share buybacks; (2) significant 2H2011 pipeline catalysts that could change investor sentiment; (3) management’s focus on fixing the R&D engine could drive significant long-term value if successful, and (4) significant and building cash balances that affords tremendous flexibility.

For more ratings news on Pfizer click here and for the rating history of Pfizer click here.

Shares of Pfizer closed at $17.49 yesterday.

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