Wells Fargo Raising Estimates On Pfizer

Wells Fargo is out with a research report on Pfizer, Inc. PFE and is raising estimates. It has a Neutral rating and a $22-$25 price target on shares. In a note to clients, Wells Fargo writes, "Raising 2012E EPS for PFE to $2.33 from $2.31 to reflect patent case victory. We had assumed loss of Viagra exclusivity in 2012. In addition, with no generic entry until 2019, our DCF analysis points to a higher range for PFE." Shares of PFE closed at $17.86 on Friday.