Accumulate Pfizer; tgt of Rs 1321: A. K. Stockmart

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Accumulate Pfizer; tgt of Rs 1321: A. K. Stockmart

A. K. Stockmart has recommended accumulate rating on Pfizer with a target of Rs 1321 in its July 13, 2010 research report.

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A. K. Stockmart has recommended accumulate rating on Pfizer with a target of Rs 1321 in its July 13, 2010 research report.

"We continue to remain positive about the future growth prospects of Pfizer MNC pharmaceutical company. Pfizer has registered decent growth for the first half of current calendar year & we expect the company to report steady performance going forward. Further, a debt-free status, large cash balances & decent dividend payouts add to its favor. At CMP of Rs 1228.6 per share, the scrip trades at 21.6x CY10E & 18.6x CY11E earnings of Rs 56.6. & Rs 66.1 respectively We maintain accumulate on Pfizer Ltd. with a price target of Rs 1321, valuing the company at 20x our CY11E earnings of Rs 66.1," says A. K. Stockmart research report.

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