Peabody PFE Analyst Update: 12/13/98
Current analyst ratings, target PFE prices, the PFE price on the report date and the analysts' latest comments are listed below for 27 PFE analysts.
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PFE Analyst Reviews
1. The consensus PFE target price remains $130, a 13% increase over last Friday's close.
2. Since the 9/4/98 PFE downgrade by Morgan Stanley (99.81), PFE has increased 15%.
3. Since the 10/14/98 PFE upgrades by Paine Webber and Deutsche Bank (87.50), PFE has increased 31%.
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.... Report...Broker......PFE................Target..... PFE on.........
.....Date.......................Rating............. Price....Report Date...
1....11/9/98..Gruntal......Strong Buy......$140.........$109.50.........
2....7/20/98..SG Cowen..Strong Buy.....$138 ........$115.63........
3......9/1/98.Aros Securities.Strong Buy..$120.......$92.00 ..........
4....10/14/98..Merrill Lynch....Buy (1-1)... $132......$87.50...........
5.....11/4/98..S.Smith Barney...Buy........$140.......$106.00..........
6....10/26/98..J.P. Morgan .......Buy.....Unknown...$103.63..........
7....10/14/98..Warburg Dillon.....Buy.......$120........$87.50..........
8....10/22/98...NationsBanc ......Buy......Unknown...$98.00..........
9....10/14/98...Gerard Klauer...... Buy......$120........$87.50...........
10...10/14/98..Paine Webber......Buy .....Unknown...$87.50...........
11...10/15/98...AG Edwards.......Buy ......Unknown...$96.38..........
12...11/9/98 ....Bear Stearns......Attractive.Unknown.$109.50.........
13....10/8/98...S & P MKT Scope..Buy....Unknown....$89.63...........
14.....9/4/98.....ABN-Amro............Buy....Unknown.....$99.81.........
15 10/14/98....Argus Research....Buy.....Unknown....$87.50..........
16...10/14/98...Dresdner Kleinwort.Buy....$125...........$87.50.........
17....11/25/98...Schroder..............Buy....$130..........$114.25..........
18...10/14/98....Deutsche Bank....Buy.....$130...........$87.50..........
19....11/9/98....Everen.................Buy......$133.........$109.50...........
20...10/14/98....CIBC/Oppenheimer..Hold .Unknown.....$87.50...........
21....11/9/98.....Southeast Research..Hold..Unknown..$109.50.........
22....10/14/98....ING Baring Furman...Hold..Unknown...$87.50 ..........
23....11/9/98..... CS First Boston........Hold..Unknown..$109.50..........
24....10/14/98....BT/Alex Brown..Market Perform.Unk....$87.50..........
25.......9/4/98...Morgan Stanley... ...Neutral.. Unknown..$99.81...........
26.....10/14/98...Brown Brothers.....Neutral/Buy LT.Unknown..$87.50............
27......7/17/98....Lehman...............Neutral.... Unknown.$117.20.........
..........................................................Average Target:$130
Comment Date..Broker PFE Rating Latest Comment
1 11/9/98 ..... Gruntal..............Strong Buy.........#1 favorite in group
2 7/20/98...... SG Cowen.........Strong Buy
3 9/1/98.........Aros Securities..Strong Buy...........Upgrade from Buy
4 10/14/98.....Merrill Lynch......Buy (1-1)...............Strong multi-product story
5 11/4/98.......Smith Barney.....Buy- Medium Risk
6 10/26/98......J.P. Morgan......Buy................The absolute # of Viagra Rxs is still strong
7 10/14/98......Warburg Dillon..Buy ...................PFE is basically on track
8 10/22/98......NationsBanc.... Buy................Viagra is the most successful drug ever
9 10/14/98......Gerard Klauer... Buy...................Celebrex and Vioxx could achieve $1 Billion
10 10/14/98......Paine Webber...Buy...............Upgrade from attractive, best position product portfolio
11 10/15/98......AG Edwards.....Buy...................Richest product line and pipeline of any Pharma
12 11/09/98......Bear Stearns.....Attractive...........Impressive new products
13 10/8/98........S & P Market....Buy..................Excellent long-term in drug stocks
14 9/04/98....... ABN-Amro........Buy.................Viagra remains an undisputed blockbuster
15 10/14/98......Argus Research.Buy...................PFE had a lot of momentum
16 10/14/98......Dresdner .......... Buy..................Focus will shift from Viagra to Celebrex
17 11/25/98......Schroder...........Buy
18 10/14/98......Deutsche Bank..Buy......Upgrade from accumulate, an excellent buying opportunity
19 11/9/98........Everen..............Buy (1-1)............Scaled up R&D, 3-5 new products coming
20 10/14/98......CIBC/Oppenheimer..Hold
21 11/9/98....... Southeast Research..Hold...........Downgrade from Buy
22 10/14/98......ING Baring Furman..Hold.............Sales growth higher than Rx growth
23 11/9/98.....CS First Boston..Hold .Growth prospects remain robust,potential for downward revisions
24 10/14/98......BT/Alex Brown.....Market Perform..Low Viagra sales
25 9/04/98....Morgan Stanley.... Neutral....Downgrade from outperform, may underperform drug group
26 11/25/98......Brown Brothers.....Neutral ST/Buy LT....Upgrade LT to Buy. Buy on weakness
27 11/25/98......Lehman................Neutral ...........Celebrex approval. Another Viagra label change
Peabody Observations: Updated 12/13/98
Some general observations about analysts:
1. The vast majority of analysts are overly optimistic. Only 1% of the 6,000 stocks tracked by First Call Corp have "sell" recommendations while 66% of stocks have "strong buy" or "buy" recommendations.
2. A "Hold", "Neutral" or "Market Perform" rating usually means there are much better stocks" available. The implied meaning of a hold rating is "don't buy this stock" or "sell if you are a shareholder".
3. A "Hold" rating from an analyst with investment banking tie is a very negative sign.
4. Similar to investors, analysts will generally support their previous positions regardless of the facts or market conditions.
5. Analysts will raise or lower their target prices without changing their ratings for a company.
6. Analysts who have investment banking links to a company are usually always biased to the upside. "The main role of an analyst is no longer to assess the investment merit of companies; it's to bring in deals for the analyst's firm." Source: "The Individual Investor Revolution" by Charles Carlson
Recommended reading for more information on interpreting analysts' reports:
"Guerrilla Investing" by Peter Siris. shop.barnesandnoble.com
PFE Analysts Summary Reports
Click here for a summary of their current analyst PFE ratings. quicken.excite.com
Click here for the Norby Reports on PFE. nordby.com |
