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

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

PFE 25.04

+2.6%

Nov 21 9:30 AM EST

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To: John Wasikowski who wrote (107)	3/18/1997 4:29:00 PM
From: Steve Bogart	of 9523

From Briefing.Com ================ 14:55 ET ****** PFIZER INC (PFE) 92 3/8 -1/4. Though issue is failing to gain ground on Merrill Lynch's upgrade, the stock is in fact benefitting from the move. On a day that has seen drug sector stocks retreat, Bristol Myers (BMY 65 1/2 -2 1/8), Warner-Lambert (WLA 87 1/4 -1 1/8), Rhone-Poulenc (RPR 74 5/8 -1 3/8); this issue is doing a fair job of holding onto yesterday's 1 1/2 points gain. This morning, Merrill Lynch analyst Steve Tighe raised his long-term opinion on this stock to "buy" from "accumulate" and set a 12-month price target of $107 a share. However, the analyst did not budge on his near-term rating of "accumulate," as his positive view is based largely on products still in development. The primary product Tighe is touting is the company's Viagra drug to treat male erectile dysfunction, which the analyst believes will be a large seller in a market that is much larger than was originally projected. He expects Pfizer to file a New Drug Application for Viagra in the second half of 1997. Factoring in the prospects of the drug, Tighe expects the company's 5-year growth rate to accelerate to 18% from a previous rate of 15%. For fiscal years 1997 and 1998, the Merrill analyst estimates earnings of $3.49 and $4.08 a share, respectively.

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