Jefferies Raises Price Targets on Global Pharma Industry, Sets Top Picks of the Year
Tweet
Share
E-mailGet Alerts JEF Hot Sheet
Price: $52.33 +1.06%
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Jefferies Group (NYSE: JEF) forecasts global large cap pharmaceutical companies will continue to perform well into the first half of 2012 as investors look for safe haven yields.
The firm’s top picks in the industry for the year are Abbott (NYSE: ABT), Novo Nordisk, Pfizer (NYSE: PFE) and Roche. Jefferies believes GlaxoSmithKline, Bristol-Myers (NYSE: BMY), and Novartis (NYSE: NVS) will all perform very well throughout the first half, but estimates less upside compared to the others.
An analyst at Jefferies comments on some major 2012 catalysts in the industry, “2012 will see major R&D catalysts including readouts in Alzheimer's disease for Pfizer/ Johnson & Johnson (NYSE: JNJ) and Eli Lilly (NYSE: LLY). Roche may also validate the CETP inhibitor class for preventing cardiovascular disease with data by year end. Pfizer should also make history with the first oral product, tofacitinib, able to take on the biologics for rheumatoid arthritis whilst also joining force with Bristol-Myers on Eliquis to fight in the oral anticoagulant class against Bayer's Xarelto and Boehringer's Pradaxa. On the corporate side the planned spin-off's of Abbott's Pharmaceuticals business and Pfizer's Animal Health and Nutrition units should also create upside in our view.”
Jefferies reiterated its Buy rating on shares of Abbott (ABT) while raising its price target from $63 to $65. The firm also lowered its FY12 EPS estimate from $5.39 to $5.36.
Jefferies reiterated its Buy rating on shares of Bristol-Myers (BMY) while raising its price target from $36 to $39.
Jefferies reiterated its Hold rating on shares of Eli Lilly (LLY) while raising its price target from $33 to $36. The firm also tweaked its FY11 and FY12 EPS estimates from $ $4.34 and $3.42 to $4.38 and $3.28.
Jefferies downgraded shares of Merck & Co. (NYSE: MRK) to a Hold rating from its previous Buy rating primarily on valuation grounds. The firm also raised its price target on the stock from $37 to $40 and increased its FY11 and FY12 EPS estimates from $3.75 and $3.81 to $3.77 and $3.88.
Jefferies reiterated its Buy rating on shares of Pfizer (PFE) while raising its price target from $23to $25. The firm also lowered its FY11 and FY12 EPS estimates from $2.24 and $2.37 to $2.25 and $2.32.
The firm’s top picks in the industry for the year are Abbott (NYSE: ABT), Novo Nordisk, Pfizer (NYSE: PFE) and Roche. Jefferies believes GlaxoSmithKline, Bristol-Myers (NYSE: BMY), and Novartis (NYSE: NVS) will all perform very well throughout the first half, but estimates less upside compared to the others.
An analyst at Jefferies comments on some major 2012 catalysts in the industry, “2012 will see major R&D catalysts including readouts in Alzheimer's disease for Pfizer/ Johnson & Johnson (NYSE: JNJ) and Eli Lilly (NYSE: LLY). Roche may also validate the CETP inhibitor class for preventing cardiovascular disease with data by year end. Pfizer should also make history with the first oral product, tofacitinib, able to take on the biologics for rheumatoid arthritis whilst also joining force with Bristol-Myers on Eliquis to fight in the oral anticoagulant class against Bayer's Xarelto and Boehringer's Pradaxa. On the corporate side the planned spin-off's of Abbott's Pharmaceuticals business and Pfizer's Animal Health and Nutrition units should also create upside in our view.”
Jefferies reiterated its Buy rating on shares of Abbott (ABT) while raising its price target from $63 to $65. The firm also lowered its FY12 EPS estimate from $5.39 to $5.36.
Jefferies reiterated its Buy rating on shares of Bristol-Myers (BMY) while raising its price target from $36 to $39.
Jefferies reiterated its Hold rating on shares of Eli Lilly (LLY) while raising its price target from $33 to $36. The firm also tweaked its FY11 and FY12 EPS estimates from $ $4.34 and $3.42 to $4.38 and $3.28.
Jefferies downgraded shares of Merck & Co. (NYSE: MRK) to a Hold rating from its previous Buy rating primarily on valuation grounds. The firm also raised its price target on the stock from $37 to $40 and increased its FY11 and FY12 EPS estimates from $3.75 and $3.81 to $3.77 and $3.88.
Jefferies reiterated its Buy rating on shares of Pfizer (PFE) while raising its price target from $23to $25. The firm also lowered its FY11 and FY12 EPS estimates from $2.24 and $2.37 to $2.25 and $2.32.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cummins (CMI) PT Lowered to $675 at Jefferies
- Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
- Walmart (WMT) PT Lowered to $125 at JPMorgan, Overweight Rating Maintained as 'Short Case Feels Greedy'
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & CoSign 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!
