Cantor Fitzgerald Starts Pfizer (PFE) at Overweight

Cantor Fitzgerald initiates coverage on Pfizer (NYSE: PFE) with a Overweight rating and a price target of $45.00.

Analyst Louise Chen comments "Our PT is based on a blend of DCF and EV/EBITDA analysis. Despite the expected effect of LOE (loss of exclusivity) headwinds to sales through the end of the decade, we think respectable earnings growth, driven by IH and eventually EH, pipeline advancements, and return of capital to PFE's shareholders — above the industry average — are all underappreciated. Therefore, multiple expansion and upward earnings revisions should drive PFE shares higher, in our view."

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 $36.38 yesterday.

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