Pfizer Inc. (PFE) – This worldwide discoverer, manufacturer, distributer and marketer of prescription medicines for humans and animals has been in a well-defined bull channel since March ’09. Since then, support at the 50-day moving average has provided solid support for the stock.
After recently peaking at more than $20, PFE has pulled back on profit-taking. But the investment climate for pharmaceutical stocks is now positive, so PFE should be bought at $18.75 or lower.
This is the world’s largest manufacturer of pharmaceuticals and S&P has a 4-start Buy rating on it, with a 12-month target of $21.
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