MKM Partner Raises Price Target on Pfizer (PFE)

MKM Partners maintained a Buy on Pfizer (NYSE: PFE) and increased its price target to $29.00 (from $27.00).

"Our price target is based on what we consider to be a fair multiple, parity with the group 2013E multiple of 12.7x applied to 2013E PFE earnings of $2.26. Our target price is based on our 3D valuation framework. Pfizer scores below average on its 2012E-2016E pipeline and has the least patent exposure and a slightly below-average score on company-specific factors," said analyst Jon LeCroy, M.D.

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 $25.35 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Freedom Broker Upgrades Morgan Stanley (MS) to Buy
• Permian Resources Corp (PR) PT Lowered to $24 at UBS Ahead of Q2 Earnings
• Manpower Inc. (MAN) PT Raised to $55 at UBS Following Better-Than-Expected Q2 Results