Pfizer has target of Rs 1160: Jain

Pfizer has target of Rs 1160, says Rajesh Jain, Independent Market Strategist.

Jain told CNBC-TV18, "Pfizer would be a clear defensive pick in the pharmaceutical space. In addition, it has upsides  on the likelihood of its significant investments in distribution and sales likely to pay off in the quarters just gone by and  in the quarters ahead. I expect the EPS to grow significantly going forward and the stock to witness a re-rating. An  intraday target would be Rs 1,160 while for the long-term, I expect Pfizer to clock Rs 1,400 on the ticker in a year