In a recent report, Citi has reiterated a $23.00 price target on Pfizer PFE and maintained a Hold rating on the company in a 1Q11 10-Q Review. Citi has also noted that there needs to be business development in the primary care segment to quell decreasing profitability.
In the report, Citi said, "Established Products/Emerging Markets (EM) profitability declined the most (-810bps YOY), likely due to sales force expansion in EM. We note that PFE's reported segment profit excludes G&A, early-phase R&D & regulatory costs."
Pfizer closed Friday at $20.92.
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