Why I like Pfizer: http://contrarianedge.com/2010/01/18/the-case-for- pfizer/
Also to borrow from David Einhorn of Greenlight Capital:
"Though the company announced a strong first quarter earnings result of $0.64 per share, a weaker Euro caused analysts to reduce 2010 consensus estimates from $2.25 to $2.15 per share. Longer term concerns about potential austerity measures in Europe and setbacks on some pipeline products also weighed heavily on the share price. As investors gain confidence in PFE’s future sustainable earnings at these levels, which we believe are attainable, investors may pay a higher multiple of earnings than the current sub-7x."
Investment Thesis: As investors gain confidence in PFE's earning potential the multiple will expand, in the meantime the company is paying a 4.9% yield.
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