Pfizer, Etsy and eBay on brokers’ radars

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

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.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Caledonia Mining's Steve Curtis talks application to continue Blanket operations

Caledonia Mining Corporation PLC's (LON:CMCL)(TSE:CAL) Steve Curtis tells Proactive London's Andrew Scott the Blanket mine is continuing to operate despite a lockdown in the country as it has applied for an exemption on the grounds that it is able to operate in a manner that contributes to the...

9 minutes ago

2 min read