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Pfizer, Etsy and eBay on brokers’ radars

Pfizer bruised by a downgrade from Jefferies but Wedbush assume coverage of eCommerce names eBay and Etsy

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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.

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