Pfizer Coverage Initiated at Deutsche Bank (PFE)
Equities researchers at Deutsche Bank started coverage on shares of Pfizer (NYSE:PFE) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $34.00 price target on the stock. Deutsche Bank’s target price would suggest a potential upside of 16.40% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Pfizer in a research note on Friday, August 22nd. They now have a $30.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Pfizer from $35.00 to $34.00 in a research note on Thursday, August 14th. Finally, analysts at BMO Capital Markets downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating in a research note on Monday, July 28th. They now have a $31.00 price target on the stock, down previously from $34.00. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.54.
Pfizer (NYSE:PFE) traded up 1.06% on Wednesday, hitting $29.5201. 12,581,067 shares of the company’s stock traded hands. Pfizer has a one year low of $27.76 and a one year high of $32.96. The stock’s 50-day moving average is $29.41 and its 200-day moving average is $30.3. The company has a market cap of $187.2 billion and a P/E ratio of 18.35. Pfizer also saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 69,502,226 shares, a decline of 4.3% from the July 31st total of 72,619,112 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 24,441,395 shares, the short-interest ratio is presently 2.8 days.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 29th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.49 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Pfizer will post $2.25 earnings per share for the current fiscal year.
Pfizer Inc (NYSE:PFE) is a research-based, global biopharmaceutical company.
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