Pfizer . (NYSE:PFE) is trending after Morgan Stanley raised its price target for the stock to $39, citing valuation and growth prospects. Morgan Stanley ’s report said that Pfizer ’s breast cancer drug Ibrance has excellent growth prospects, mainly because Ibrance’s competitors are facing pressure in and outside the US. Pfizer will also be a big benefactor of the latest tax reform announced by the US government.
It’s important to note that Ibrance has still a very little presence in emerging markets. Aside from Ibrance, Pfizer is working on about 30 drugs, out of which 15 have the potential to become blockbusters, according to the company’s CEO.
Over the current book year the total revenue will be 52,72 billion USD (consensus estimates). This is slightly lower than 2016's revenue of 52,82 billion USD.
The analysts expect for 2017 a net profit of 15,47 billion USD. The majority of the analysts expects for this year a profit per share of 2,56 USD. Based on this the price/earnings-ratio is 14,06.
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