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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: B.REVERE who wrote (1704)	4/27/1998 10:22:00 AM
From: Nick	Read Replies (1) \| Respond to of 9523

For anyone who's not in...HERE'S YOUR CHANCE!!! Nick

To: B.REVERE who wrote (1704)	4/27/1998 11:08:00 AM
From: dougjn	Read Replies (2) \| Respond to of 9523

We are in a sizeable correction. Based on interest rates. The drugs always get hit when rates rise. They get little or no benefit from strong economy; valuation is much affected by higher rates since they are regarded as relatively sure things with multiples to match, all depends on the discount rate. Blew my Pfe out at 116.25 first thing. Glad I did. Pfe's Viagra numbers are great but the reality is they won't add that much to earnings near term. Its out a couple of years where it ramps. So when the discount rate changes, Pfe gets whacked. RT still dropping. Now 112 even. Doug