Wyeth "neutral weight," estimates reduced

02/02/06 - Prudential Financial

NEW YORK, February 2 (newratings.com) - Analyst Tim Anderson of Prudential Financial reiterates his "neutral weight" rating on Wyeth (WYE), while revising his estimates for the company. The target price is set to $52.

In a research note published yesterday, the analyst mentions that the company has reported its 4Q pre-option EPS short of the estimates and the consensus. Wyeth’s revenues for the quarter were in-line with the estimates and short of the consensus, the analyst says. The EPS estimate for 2006 has been reduced from $3.07 to $3.04 to reflect a decline in interest income and low royalty income. The EPS estimate for 2007 has been raised from $3.25 to $3.37 to reflect the possibility of the company launching a new drug to eliminate the competition from generic Zosyn.