Pfizer’s Price Target Cut at Credit Suisse as Tanezumab Launch Pushed Back (PFE)

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Pharma giant Pfizer Inc. ( PFE ) 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 stock.

Pfizer shares fell 28 cents, or -1.9%, in premarket trading Thursday.

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 $14.88.

Pfizer Inc. ( PFE ) 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 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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