Phizer (PFE) Will Perform Despite Difficult Second Half - Jefferies
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Price: $25.86 -0.19%
Rating Summary:
13 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 50
Rating Summary:
13 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 50
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Jefferies reiterated their Buy rating on Pfizer (NYSE: PFE) and upped their price target to $26.00 (from $25.00).
“Q2'12 looked almost as tough as it can get,” said analyst Jeffrey Holford, “yet Pfizer delivered a strong beat at the bottom line driven by exceptional cost control and aggressive share repurchases. H2'12 will be tougher still as the worst comps on generics and FX are yet to come.”
However, Holford believes that the failure of bapineuzumab and the delays to Eliquis and tofacitinib are already discounted into expectations, and the shares can continue to perform well 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 $23.83 yesterday.
“Q2'12 looked almost as tough as it can get,” said analyst Jeffrey Holford, “yet Pfizer delivered a strong beat at the bottom line driven by exceptional cost control and aggressive share repurchases. H2'12 will be tougher still as the worst comps on generics and FX are yet to come.”
However, Holford believes that the failure of bapineuzumab and the delays to Eliquis and tofacitinib are already discounted into expectations, and the shares can continue to perform well 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 $23.83 yesterday.
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