Pfizer (PFE) PT Lowered to $36 at Berenberg Following 2Q

Berenberg lowered its price target on Pfizer (NYSE: PFE) to $36.00 (from $39.00) while maintaining a Hold rating. Pfizer’s recent Q2 results beat consensus earnings by 2%. Xeljanz
sales of $336m beat expectations by 14%, while Ibrance sales of $853m beat by 13%.

Pfizer raised full-year adjusted diluted EPS guidance from $2.50-$2.60 per share to $2.54-$2.60 per share, representing a slight (1%) increase to the midpoint of the range.

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