Bear Stearns puts Pfizer at outperform

Pfizer Inc. was given an outperform rating and a $30 price target by Bear Stearns analyst John Boris. Bear Stearns lowered its 2006 adjusted earnings per share to $2.02 from $2.10. The analyst sees Pfizer offering a compelling risk/reward with a positive growth outlook at a 20% discount to the S&P. Bear Stearns increased its Celebrex sales estimates to just under $2 billion, from $1.6 billion, based on projected NRx Celebrex trends. Shares of the New York, N.Y., pharmaceutical company were up $0.10, or 0.39%, at $25.58 on volume of 24,916,300 shares versus the three-month running average of 37,285,100 shares. (NYSE: PFE)

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