With shares of Pfizer up 15% over the past 3 months, how should you game this stock into – and in the wake of earnings?
Seems like a good time for Fast Money 360.
Find out what fundamentals, technicals and insights from the options world all suggest lie ahead for this stock.
Miller Tabak portfolio manager Les Funtleyder is concerned that the stock doesn’t have a lot more upside.
“We think Pfizer is pressing up against its valuation here,” he says. In other words, he think at current levels it’s fairly priced.
”We would want to see what Pfizer does with its capital. If Wall Street isn’t satisfied with its capital allocation, the stock could sell off.”
Oppenheimer’s Carter Worth doesn’t see a trade in the charts.
”It’s had a big move from $14 to $20,” he reminds. “That’s a past top” which would suggest a point of resistance.
However, that does not mean you should go short.
”It is likely to just be dormant here and stall out and not respond to its earnings. We’d leave it alone,” he says.
Scott Nations of NationsShares says that options traders are bullish on Pfizer going into earnings.
“On Tuesday the May 21 calls were by far the most active option and over 80% of those traded on the offer,” he says. “Aggressive buyers are reaching to buy those calls, so I would be a buyer of Pfizer going into earnings based on what we see in the options.”
What do the Fast Money traders think about Pfizer stock? Find out in this web extra! Watch the video now!