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Fly News Breaks for July 25, 2016
PFE
Jul 25, 2016 | 06:57 EDT
Piper Jaffray analyst Richard Purkiss believes the fall of generic company valuations limits the near-term upside achievable from Pfizer splitting its Innovative and Established companies. Ibrance is the "overriding reason" to own the shares, as it will be the dominant driver of earnings in the next decade, Purkiss tells investors in a research note. Further, he believes Pfizer's pipeline is not being assigned any value at current valuation levels. The analyst keeps an Overweight rating on the shares with a $54 price target.
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