Due to an expected big year for clinical drug results, Jefferies analysts increased the price target and earning estimates on pharmaceutical company Pfizer Inc. (PFE).

The analysts maintain a “Buy” rating for PFE and now see shares reaching $31, suggesting a +16.4% upside to Tuesday’s closing price of $26.62.

Pfizer shares were down slightly during premarket trading on Wednesday. The stock is up +21.89% over the past year.

The Bottom Line
We have been recommending shares of Pfizer (PFE) since Mar.2, 2012, when the stock was trading at $21.49. The company has a 3.61% dividend yield, based on last night’s closing stock price of $26.62.

Pfizer Inc. (PFE) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.