Centrum maintains buy on Pfizer, target price Rs 5,000

Centrum maintained its ‘buy’ rating on Pfizer with a target price of Rs 5,000. Even as Pfizer’s third quarter results were below estimates largely due to lower than estimated Ebitda, net profit came in line with estimates on account of lower tax rate. Also, the company expects better performance from recently launched Zavicefta and upcoming products. The key risk on the stock remains Prevnar13 status and any further expansion of NLEM portfolio in the domestic market. Shares of Pfizer closed at Rs 4,128, up 2.5%.