Piper Jaffray Analyst Reiterates Overweight Rating on Pfizer Inc. (PFE)
Piper Jaffray analyst Richard Purkiss reiterates his Overweight rating on Pfizer Inc. (NYSE:PFE) with a price target of $54.00.
The analyst believes that while a split into innovative and established companies might unlock hidden value for Pfizer, the fall in generic company valuations in the past year may limit near-term upsides achievable on an SoP analysis.
Ibrance’s escalated growth versus the rest of Pfizer’s drug portfolio should add meaningful tax benefits for the company.
According to TipRanks, Richard Purkiss is ranked #1,319 of 4,081 analysts. He maintains a success rate of 67% and realizes an average return of 6.1%. When rating PFE, the analyst sustains a success rate of 90% with an average profit of 12.6%