PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 25.16

-0.5%

Dec 2 3:59 PM EST

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To: t2 who wrote (7847)	6/9/1999 10:26:00 PM
From: Dave Mansfield	Read Replies (2) of 9523

luther, Why is PFE a defensive play against interest rate increases. It supports a very high PE. I'll take this one. An economic downturn (possibly started by an increase in interest rates) will take many stocks down, especially the cyclicals. Drug stocks however are not so dependent on the economic cycle. People get sick and need drugs no matter what condition of the economy. As a matter of fact, economic downturns tend to bring out the worst in people. Could spur demand of their anti-depressant Zoloft or their Yipee drug Viagra. If people sense an economic downturn, a rush to the non-cyclicals could ensue, driving up PFE. May not be correct, but a logical theory.

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