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Pfizer cut to sell by Citi, target to $31

May 17, 2017

Citi downgraded Pfizer (NYSE: PFE) from Neutral to Sell with a price target of $31.00 (from $38.00).

Analyst Andrew Baum said the company needs a deal to deliver on consensus EPS. The firm cut non-GAAP EPS estimates by 5%-10% (2018-22), and their non-GAAP EPS estimates are now 12% below consensus in 2022.

http://bit.ly/2reYgZp

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