Pharma giant Pfizer Inc. (
) saw its price target cut on Thursday by analysts at Credit
Suisse, who cited a recent delay in the launch of the company's new
pain relief drug.
The firm lowered its target for PFE to $21 from $22, citing the
recent announcement that its pain relief drug, Tanezumab, would not
launch as soon as originally forecast. That new target represents a
41% upside from PFE's Wednesday closing price of $14.88.
Still, Suisse maintained its "Outperform" rating on the
Pfizer shares fell 28 cents, or -1.9%, in premarket trading
The Bottom Line
We recently removed shares of PFE from our recommended list on May
25, when the stock was trading at $15.22. The company has a 4.84%
dividend yield, based on last night's closing stock price of
Pfizer Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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