BMO Capital Upgrades Pfizer (PFE) to Outperform Amid Hospira Takeover

BMO Capital upgraded Pfizer (NYSE: PFE) from Market Perform to Outperform with a price target of $36.00 (from $33.00) saying they see the recent Hospira takeover as a value inflection point.

Analyt Alex Arfaei said cited three reasons the Hospira takeover serves as a value inflection point: 1) It adds significant near-term EPS accretion at a reasonable price, 2) it strengthens Pfizer’s leadership position in the multi-billion dollar biosimilar market; and 3) it increases the probability, thus adds optionality value, for a potential split of the company into an Innovative Products business and an Established Products business.

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 $33.17 yesterday.

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