Top Stock to Buy #5 – Pfizer (PFE)
Pfizer (NYSE:PFE) is the world’s largest pharmaceutical company, producing a wide range of drugs. In October 2009, it acquired Wyeth. The blue-chip has had a long history of earnings gains and dividend increases. The current dividend yield is 3.4%.
Technically, PFE has been in a bull market since January 2012. On March 20, following a meeting with Pfizer management, JPMorgan Chase (NYSE:JPM) analysts raised their price target to $32, and S&P forecasted an earnings target of $2.30 for 2013, up from $2.19 in 2012. And a stock repurchase plan could result in even higher earnings.
PFE’s momentum has recently increased, driving it through the top of a well-defined two-year bull channel. Pfizer appears attractive as a long-term, blue-chip diversification in an investment-grade portfolio.