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Wyeth at outperform by Bear Stearns
Bear Stearns analyst John Boris reiterated Wyeth at outperform. The analyst increased earnings-per-share estimates for 2007 to 2009 to $3.50, $3.88 and $4.27, from $3.45, $3.78 and $4.17 and the year-end price target to $57 from $55. Wyeth's Prevnar is approved in 77 countries and launched in 58, but there are only national reimbursement programs in 12. The Prevnar vaccine market model assumes less than 25% penetration or about $4 billion. Shares of the Madison, N.J., pharmaceutical company were down 30 cents, or 0.59%, at $50.59. (NYSE: WYE)
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