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

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

PFE 25.20

-0.4%

3:50 PM EST

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To: MJ who wrote (724)	3/26/1998 3:37:00 PM
From: Andreas	Read Replies (2) of 9523

The fact that Smith Barney, or anyone else for that matter raises their price target to the stratosphere or $120 in the case of pfe means absolutely nothing. Zero, zilch, zippo! I hate to burst your bubble, but if pfe goes to 120 it will get there in spite of some assinine comments from analysts like Smith Barney. You may or may not recall, but all of two and a half months ago Merrill Lynch raised their price target to $50.00 (post split) on compaq computer. Guess what happened after ML made that pronouncement? CPQ went down to $23.00!!! That's right nearly half of their price target? Does anyone really believe anymore that compaq will reach $50.00 in nine months? No! Now, let me suggest you do some homework. Go back twelve months and find as many price targets as you can, made by anal-ysts. Then compare today's price compared to their target and determine their track record. I have already gone through that little exercise. Their track record stinks!! Why? Because they virtually always state the opposite of what they want to occur. They say buy so they can sell and they say sell so they can buy. PFE is a good strong company in its own right. Neither you nor I nor anyone else needs some jack-ass at ML or Smith Barney or anywhere else to tell you what's going on. The minute you place your trust in those yo-yos you can, with some exceptions, start kissing your money good-bye. PS: Your Smith Barney broker doesn't know if PFE approval is imminent any more than you or I. The mere fact that he claims to know something is proof positive that he is full of crap and just trying to sound impressive to you. If you don't believe me - try calling the FDA or anyone you can possibly think of and ask them when approval will occur. Guess what they'll say? No comment. The FDA simply will not field calls on that issue.

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