Pfizer’s Price Target Raised at Goldman Sachs (PFE)

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Pharma giant Pfizer Inc.( PFE ) on Monday saw its price target boosted by analysts at Goldman Sachs.

The firm said it now expects PFE shares to reach $20, which implies a 13% upside to the stock's Friday closing price of $17.75.

Goldman noted the company should continue to grow through acquisitions, and reiterated its "Buy" rating.

Pfizer shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of PFE have a 4.06% dividend yield, based on Friday's closing stock price of $17.75. The stock has technical support in the $15-$17 price area. If the shares can firm up, we see overhead resistance around the $19-$20 price levels. We would remain on the sidelines for now.

Pfizer Inc.( PFE ) is not recommended at this time, holding a 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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This article appears in: Investing , Stocks

Referenced Stocks: PFE

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