Analyst Upgrade Fails to Lift Pfizer (NYSE:PFE)’s Stock

Pharmaceutical blue chip Pfizer Inc (NYSE:PFE)’s stock receive analyst upgrades on Tuesday but the news was not well-received by investors as PFE’s shares were trading 0.57 percent lower from the previous close in the early trading hours.

As of 9:43 am, Pfizer Inc (NYSE:PFE)’s stock was trading at US$34.85, or 57 percent from its previous close, although it was one of Tuesday’s most active stocks.

Pfizer Inc closed 3.67 percent higher on Monday’s trading but opened lower today despite the upgrades.

According to Zack’s Research, shares of Pfizer, Inc. (NYSE:PFE) have been given a one year target price of $40.777. This is the consensus number based on the 9 analysts providing projections.

The estimates range from $34 on the low end to $52 on the high end. These are short term targets provided by research analysts covering the equity.

Based on the hedge funds that we track, Ken Fisher’s Fisher Asset Management holds the most shares in Pfizer, with 31.82 million shares valued at US$1.1 billion as of the second quarter of this year.

Fisher Asset Management was bullish on Pfizer in the second quarter as it raised its shareholding by 2 percent, taking up a total of 2.07 percent of its portfolio.

Cliff Asness’s Aqr Capital Management was the second biggest shareholder of Pfizer’s stock as of the second quarter, with 14.26 million shares valued at US$478 million. Aqr was also bullish on Pfizer as it raised its holding by 11 percent in the quarter ending June. – BusinessNewsAsia.com

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