12. The current price of Pfizer stock is $40.00 per share. Earning next year is expected to be $3.00 per share and it sh

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answerhappygod
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12. The current price of Pfizer stock is $40.00 per share. Earning next year is expected to be $3.00 per share and it sh

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12. The current price of Pfizer stock is $40.00 per share. Earning next year is expected to be
$3.00 per share and it should pay a $2.40 dividend each share. The industry P/E multiple
is 20 times on average. What price would you expect for Pfizer stock next year?
A $48.00
B. $60.00
C. $72.00
D. none of the above; the correct answer is
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