April 28th - Hedgie Hot Stock
What do Greenlight Capital, Blue Ride Capital and T2 Advisors all have in common? They’re all bullish this name.
And according to Anthony Scaramucci of Skybridge Capital, that name is Pfizer .
Yup, you read that right. Boring old Pfizer is our latest hedgie hot stock!
Pfizer Key Stats
-Trailing P/E: 12.2x
-Mean consensus estimate for 2010: $2.17 per share
-Implied forward P/E: 7.6x
-Dividend yield: 4.37%
Here’s why Scaramucci likes it:
The buzz on Pfizer is that the patents are expiring and therefore it doesn’t have earnings growth, explains Scaramucci. But there are exciting developments going on in the industry – such as the Dendreon breakthrough drug - and Pfizer has plenty of cash to make more acquisitions.
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CNBC.com with wires