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Analysts Look Forward to Pfizer (PFE) Product Launches

November 12, 2012 8:11 AM EST
Get Alerts PFE Hot Sheet
Price: $27.85 +0.25%

Rating Summary:
    13 Buy, 20 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Jefferies maintained a Buy rating on Pfizer (NYSE: PFE) and trimmed its price target to $27.00 (from $28.00).

In early November Pfizer reported third quarter results and sales that missed analysts expectations. Commenting on the results, Jefferies analyst Jeffrey Holford said, "The 5% revenue miss in Q3'12 was forgiven to a degree as Lipitor phasing was partly to blame and EPS was still delivered through financial engineering."

"Lighter than expected Prevnar-13 and Enbrel sales were more concerning, though we now have the US launches of tofacitinib and hopefully Eliquis within the next 3-6 months to look forward to," added Holford.

He thinks new product launches, share repurchases, and restructuring will create near-term upside in shares of Pfizer.

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 $24.17 yesterday.


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