Wyeth provides limited update
Analysts at Zacks Investment Research currently rate shares of US drug major Wyeth, now the subject of a takeover by pharmaceutical behemoth Pfizer, a hold with a $49 price target. Their target assumes Pfizer shares trade up near $16 (currently $13.49) by the expected close date of the transaction in the third or fourth quarter. At an exchange ratio of 0.985 and combined with the $33 cash per Wyeth share, this equates to roughly $49 a share.
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