Pfizer (PFE) is expected to report Q2 earnings on Tuesday, August 2 before the market open with a conference call scheduled for 10:00 am ET.
Analysts are looking for EPS of 59c on revenue of $16.98B. The consensus range is 56c-65c for EPS, and $16.43B-$17.54B for revenue, according to First Call. On its Q1 earnings release, the drug giant gave FY11 EPS guidance of $2.16-$2.26. Positive catalysts may be seen coming from sales of Enbrel and Prevnar as well as from Wyeth and King synergies. Those positives may however be off-set by continued generic erosion, especially in Lipitor and Effexor.
On July 18, Ticonderoga said it would be an aggressive buyer of Pfizer, based on catalysts from its August 2 pipeline update. The firm rates the shares a buy with a $20 price target.