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Fly News Breaks for May 2, 2016
PFE
May 2, 2016 | 07:59 EDT
Leerink analyst Seamus Fernandez believes Pfizer's organic growth outlook could fall well below consensus forecasts in 2020 without pipeline upside surprises, a major acceleration in emerging market growth, or dramatic weakness in the dollar. The analyst is convinced that the company's inversion interests are at an end but management will consider to pursue all means of creating value in the near- to medium-term. Fernandez reiterates a Market Perform on the stock but lowered his price target on the shares to $34.70 from $37.
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