Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 21, 2019

Article Excerpt

PFIZER INC., $43.67, New York symbol PFE, is one of the world’s largest makers of prescription drugs. Its top-selling brands include Lyrica (epilepsy), Celebrex (arthritis pain), Prevnar (pneumonia) and Enbrel (rheumatoid arthritis). The company has agreed to buy Array BioPharma Inc. (Nasdaq symbol ARRY). That firm recently received approval for two skin cancer drugs—Braftovi and Mektovi. Studies indicates that those drugs may also help treat colon cancer. Those products nicely complement Pfizer’s 18 cancer drugs. Pfizer will pay a total of $11.4 billion, including Array’s debt. That’s equal to 5% of its $242.4 billion market cap (the total value of all outstanding shares). Assuming Array’s shareholders and regulators approve, Pfizer expects to complete the purchase by the end of 2019. The new operations should begin contributing to the company’s earnings in 2022. OUR RECOMMENDATION: Pfizer is a buy. Pfizer recent coverage: May 2019 issue Hotline for February 1, 2019 INTEL CORP., $47.46, Nasdaq symbol INTC, is the world’s leading maker of computer chips: its products power…