Pfizer (PFE) Stock: $55 Price Target From Morgan Stanley
- The shares of Pfizer Inc. (NYSE: PFE$Pfizer(PFE)$ ) have received a $55 price target from Morgan Stanley. These are the details.
The shares of Pfizer Inc. (NYSE: PFE) have received a $55 price target from Morgan Stanley. And Morgan Stanley analyst Matthew Harrison reiterated an “Equal-Weight” rating on the shares.
Harrison adjusted the rating on a lower multiple after management noted that its M&A/BD strategy is a continuation of its prior approach, but there would be a more accelerated pace.
“We have adjusted our model and lowered our forward P/E multiple from 12.5x to 11.5x. Pfizer’s large and growing cash balance will be a key source of investor debate in the coming months, but we expect cash generation to return to baseline over the next few years,” wrote Harrison in a research note.
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