Stock Update (NYSE:PFE): U.S. Treasury rules put Pfizer-Allergan deal in question

[Reuters] – The U.S. Treasury Department’s proposed new tax regulations threw a series of proposed mergers into question, including Pfizer Inc’s $160 billion agreement to buy Allergan Plc, pushing shares of Allergan and other targets lower. Other deals that could be affected by the new Treasury tax rules include the proposed $16.5 billion merger of Johnson Controls Inc, a U.S. maker of car batteries and heating and ventilation equipment, with Ireland-based Tyco International Plc. Shares of U.S.-based Waste Connections Inc were down 6.6 percent. Read more on this. Pfizer Inc. (PFE) , with a current value of $195.76B, opened this morning at $31.21. Today, shares have traded between $30.58 and $31.64 per share and has traded between $28.25 and $36.46 over the past 12 months. Pfizer (PFE) shares are currently priced at 12.94x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.39x earnings multiple for the same period. The company pays shareholders $1.20 per share in dividend income per year, for a current yield of 3.99%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $0.54 per share, which would be $0.03 better than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $2.29 is a $0.09 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.90 Billion. If reported, that would be a 9.58% increase over the year-ago quarter. More recently, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral (Nov 25, 2015). Previously, Morgan Stanley upgraded PFE from Equal-Weight to Overweight. When considering if perhaps the stock is under or overvalued, the average price target is $38.81, which is 24.35% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Stock Update: Pfizer Inc (NYSE:PFE) – Pfizer, Allergan get request for additional information from FTC Stock Update: Pfizer Inc (NYSE:PFE) – Pfizer to Present New Data on Investigational Tofacitinib in Inflammatory Bowel Disease at the 11th Congress of ECCO Company Update (NYSE:AGN): Pfizer-Allergan deal refocuses market on US tax-inversion rules