Pfizer Just Took Out $31 Billion in Debt. Here's Why That's Good News
On May 16, Pfizer (NYSE: PFE) announced that it was going to take out $31 billion in fresh debt to pay for its purchase of Seagen (NASDAQ: SGEN), an oncology drug developer. In total, it'll pay $43 billion for the company in a transaction that's set to reshape its future, and power shareholder returns for the remainder of the 2020s and perhaps beyond.
Somewhat counterintuitively, investors should interpret this debt issuance as good news for Pfizer's stock. Here's why.
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Source Fool.com
Pfizer Inc. Stock
€28.43
0.280%
With 28 Buy predictions and 4 Sell predictions Pfizer Inc. is one of the favorites of our community.
With a target price of 41 € there is a positive potential of 44.24% for Pfizer Inc. compared to the current price of 28.43 €.
