Deutsche Bank Starts Pfizer (PFE) at Buy

Deutsche Bank initiates coverage on Pfizer (NYSE: PFE) with a Buy rating and a price target of $34.00.

Analyst Gregg Gilbert said, "While Pfizer continues to face headwinds to top-line growth and has a less obviously compelling pipeline relative to some of its peers, we like the company’s strong financial position, attractive valuation and dividend and a management team that is committed to shareholder return. We expect Pfizer to leverage its strong balance and cash generation through business development, and note the potential to unlock value via separation of one or more of its business units. Importantly, we trust that Pfizer’s strategic decisions will be guided by shareholder value considerations. While PFE has generally not been viewed as a “pipeline story,” we see more potential value in the late-stage pipeline than in recent years."

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 $29.21 yesterday.

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