Pfizer (PFE) Removed from Jeffereis Franchise Pick List

Jefferies analyst Jeffrey Holford removed Pfizer (NYSE: PFE) from the Jeffereis Franchise Pick List and lowered his price target to $40.00 (from $42.00). The Buy rating was maintained.

Holford commented, "The debate on whether to separate GEP (the GEPxit) is getting under full swing, only there will be no referendum for investors. The arguments against the GEPxit may have strengthened, altering the probability away from our prior assumption of a near certainty. We present the arguments for and against as well as our updated SOTP valuation ($42), which with a reduced weighting lowers our PT to $40."

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 $34.22 yesterday.

You May Also Be Interested In

• Keurig Dr Pepper (KDP) PT Raised to $39 at Jefferies
• Macquarie Upgrades ASM Pacific Technology (522:HK) (ASMVY) to Outperform
• Pfizer Declares Second-Quarter 2024 Dividend