Pfizer price target raised to $30 from $28 at BofA

BofA analyst Tim Anderson raised the firm’s price target on Pfizer (PFE) to $30 from $28 and keeps a Neutral rating on the shares. While the timing of President Trump’s drug pricing announcement with Pfizer was a surprise, the substance was “pretty benign overall,” which has triggered a partial re-rating of many, but not all, large cap biopharma companies, the analyst tells investors. The firm is taking this opportunity to adjust select price targets in the group, taking into account these recent updates as well as other fundamental changes, the analyst noted.