Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Pfizer, Etsy and eBay on brokers’ radars

Pfizer, Etsy and eBay on brokers’ radars
Brokers line up to rate eBay and Etsy

Pfizer (NYSE:PFE) the pharma giant was downgraded by broker Jefferies on Thursday to "hold" from "buy," due to a lack of catalysts and drivers for a higher stock price.

In effect, the broker accused the stock of running out of ideas for upside.

The share price came off 0.7% to $32.84.

Jefferies said AbbVie (NYSE:ABBV) whose shares were 0.3% higher at $61.36, and Eli Lilly (NYSE:LLY) remain its top US picks in the drug sector.

Separately, Pfizer lost its appeal in a patent case over its pain drug Lyrica in a UK court, but said it would seek a further appeal.

Broker Wedbush said it was assuming coverage of online marketplace Etsy (NASDAQ:ETSY) with a Neutral rating and $15 price target.

“We expect Etsy to grow above an accelerating ecommerce market for a few more quarters as its seller services penetrate the installed base,” the broker said in a note.

Etsy shares were 1.4% lower at $14.90.

Talking of online marketplaces, Wedbush also said it was assuming coverage of eBay (NASDAQ:EBAY) with a Neutral recommendation and $34 price target.

Wedbush’s take on eBay was not dissimilar to its view on Etsy: “We believe eBAY will continue to benefit from the secular growth of ecommerce as initiatives such as site/mobile improvements and structured data help slow the rate of market share erosion.”

eBay shares were 0.3% higher at $31.60.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use