Boston, MA 07/15/2014 (wallstreetpr) – Pfizer Inc. (NYSE:PFE) has been a subject of a number of analysts on Wall Street, especially since its failed bid for AstraZeneca plc (ADR) (NYSE:AZN). Sentiments on the stock have also been based on its aging products, especially Lipitor that has become a shell of its former self. Some analysts have also based their sentiments on the company’s product pipeline.
According to analysts at Jefferies Group, the latest rating firm to comment on the stock of Pfizer, the company is a Buy. The firm also upgraded their price target on the stock from $36 to $38. The new price target suggests about 26 percent premium over the prevailing prices.
Other analysts rating firms that have recently weighed in on the stock of Pfizer Inc. (NYSE:PFE) include Barclays, which have an Equal-weight rating and raised their price target on the stock to $34 from $32. Analysts at JPMorgan Chase & Co. (NYSE:JPM) rate the stock an Overweight with a price target of $35. At Zacks, the stock carries a Neutral rating and a price target of $31.
Out of the 15 analysts covering the stock, nine have it on a Buy list while six recommend a Hold. That gives Pfizer Inc. (NYSE:PFE) a consensus Buy rating and an average price target of $33.97.
Fresh bid for AstraZeneca
Pfizer Inc. (NYSE:PFE)’s favorable rating is because of the chances of the company to reinvent itself. Analysts still believe that the company could soon make another bid for AstraZeneca, a move that will help it to boost revenue and reincorporate outside the U.S. so as to enjoy lower corporate taxes.
Rich pipeline
Of all the promises in the Pfizer, nothing is more compelling than its product pipeline. Pfizer Inc. (NYSE:PFE) has a rich pipeline, in fact, one of the best in the industry, which could be a game-changer in the few years. That should be a good reason for investors to be patient with the company even though its bestselling products have been exposed to generic competition because of the loss of market exclusivity.
