Pfizer (NYSE:PFE) — The world’s largest pharmaceutical company has had a long history of earnings increases that have resulted in higher dividends. The current dividend yield is 3.7%. Analysts have raised their price target to $28-$30.
Technically PFE broke from resistance at $23 after a long series of corrections, each of which held on its bullish support line. The breakout is supported by a new buy signal from our proprietary indicator, the Collins-Bollinger-Reversal (CBR), and a short-term buy signal from the stochastic. The trading target is $30, but Pfizer is an investment-grade stock that should be held for long-term appreciation.
Pfizer reports Q2 earnings before Tuesday’s opening. Analysts are looking for EPS of 52 cents, but they may be surprised with a few cents more plus a dividend increase.