By: Benzinga
March 07, 2013 at 11:02 AM EST
UPDATE: Morgan Stanley Raises PT to $31 on Pfizer on Pipeline Potential in Second Half of 2013
Morgan Stanley maintained Pfizer (NYSE: PFE ) with a Overweight and raised the price target from $27.00 to $31.00. Morgan Stanley noted, "Pfizer's FCF yield is attractive at 8%. Raising PT from $27 to $31 based upon greater long-term pipeline contribution and thus more optimistic DCF (changed terminal growth from
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