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Pfizer Downgraded to “Equalweight” at Barclays (PFE)

Pharma giant Pfizer Inc. ( PFE ) on Wednesday saw its rating and price target cut by analysts at Barclays Capital.

The firm said it downgraded PFE from "Overweight" to "Equalweight" while cutting its price target from $21 to $19. That new target suggests a small upside to the stock's Tuesday closing price of $18.33.

A Barclays analyst noted that "We are less confident of the stock's potential for outperformance," given upcoming patent expirations and a lack of near-term catalysts in their drug pipeline.

Pfizer shares were mostly flat in premarket trading Wednesday.

The Bottom Line

Shares of Pfizer ( PFE ) have a 4.36% dividend yield, based on last night's closing stock price of $18.33. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $19-$21 price levels.

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 Nasdaq, Inc.

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

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