Pfizer’s Target, Estimates Cut at Deutsche Bank (PFE)

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Pharma giant Pfizer Inc. ( PFE ) late Monday saw its price target and earnings estimates slashed by analysts at Deutsche Bank.

The firm lowered its target for PFE from $25 to $20, citing "the low visibility of future revenue growth." That new target still represents a 33% upside for the stock, which had closed at $14.93 on Monday.

Additionally, the analyst lowered its full-year 2011 earnings estimate for PFE from $2.31 to $2.25 per share. On average, Wall Street analysts expect $2.26 per share for the year.

Still, Deutsche maintained its "Buy" rating on the stock, noting "the current low multiple on the stock, coupled with the visible earnings growth, strong balance sheet, and high dividend yield suggest that there is limited downside in the stock at current levels."

Pfizer shares rose 8 cents, or +0.5%, in premarket trading Tuesday.

The Bottom Line
We recently removed shares of PFE from our recommended list back on May 25, when the stock was trading at $15.22. The company has a 4.82% dividend yield, based on last night's closing stock price of $14.93. The stock has technical support in the $12-$13 price area. If the shares can firm up, we see overhead resistance around the $17-$18 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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