A new CEO, a $5 billion share-repurchase program, and a handful of promising new drugs make Pfizer shares look cheap even after today's runup, according to Morningstar's Damien Conover.
A new ROIC-focused process for compound development plus the value of Pfizer's other businesses add up to a fair value well in excess of $14, says RS Investments manager Joe Wolf.
Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.