Pfizer price target raised to $45 from $43 at Morgan Stanley. Morgan Stanley analyst David maintained an Overweight rating on Pfizer (PFE) and raised his price target to $45 based upon a 5-year CAGR for revenue growth of 3% and EPS growth of 7%. In a research note to investors, Risinger says he believes the primary driver of major pharma stock performance in recent months is “defensive rotation.” Additionally, he notes that political news has been “encouraging” as of late, with President Trump tweeting on July 19 “Thank you to Novartis (NVS) for not increasing your prices on prescription drugs. Likewise to Pfizer.” Looking ahead, the analyst says to watch for U.S. pricing perception drivers in the coming months that could impact pharma stock performance, including potential additional HHS action on drug rebates, November election results and manufacturer communication and action on U.S. list prices by early January.
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