Pfizer reiterated by Bear Stearns at market outperform

Pfizer Inc. was reiterated by Bear Stearns analyst John Boris at a market outperform and a $30 price target after a judge upheld both atorvastatin patents, securing Lipitor exclusivity through June 28, 2011. This is the best case scenario for Pfizer's drug, which is the largest revenue and earnings contributor accounting for 17% of 2010 U.S. human pharmaceutical sales and 21% of earnings per share in 2010, Bear Stearns said. Shares of the New York City pharmaceutical company were up $1.74, or 7.71%, at $24.32 on volume of 143,071,600 shares versus the three-month running average of 35,726,100 shares.

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