How Will Pfizer's (PFE) Stock Be Affected By Its Ongoing Battle for AstraZeneca (AZN)?

NEW YORK (TheStreet) -- Shares of Pfizer Inc. (PFE) are currently down -0.87% to $28,92 as it finds itself enmeshed in a political firestorm in the U.S. and Europe as it continues its attempt to buy AstraZeneca (AZN).

A new offer is expected next week. AstraZeneca's shares are down -1.32% to $77.70.

A strategic question for Pfizer and its advisers is whether to come back with a new bid before bosses from both companies are grilled by U.K. lawmakers on May 13-14, or wait until the end of the week, Reuters reports.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

 
 

Pfizer's record of slashing jobs after a string of earlier mergers has provoked a political backlash against the proposed $106 billion takeover at home and in Britain, with two U.S. state governors --Maryland and Delaware--joining the fray yesterday, according to Reuters.

Many in the U.S. are concerned that Pfizer's promise to Britain that the combined company would keep 20% of its R&D workforce in the country will inevitably jeopardize American jobs.

TheStreet Ratings team rates PFIZER INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate PFIZER INC (PFE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

If you liked this article you might like

Dow, S&P 500 Set New Records as Fed Moves to Unwind Balance Sheet

Stocks In Negative Territory as Chances for December Hike Surge

The Wait for 'Milestone' Fed Meeting Keeps Stocks in Flux

The 6 Medications Being Used to Tackle the Opioid Epidemic