Glonghui, May 6 | Morgan Stanley released a report stating that Pfizer's first-quarter results exceeded expectations and reiterated that its revenue guidance for this year ranged from 58.5 billion to 61.5 billion US dollars (median of 59.5 billion US dollars), compared to the bank's latest expectations and market expectations of 61.3 billion US dollars and 59.9 billion US dollars, respectively. The company also raised its earnings per share forecast guide for this year from 2.05 to 2.25 US dollars to 2.15 to 2.35 US dollars (median of 2.25 US dollars), indicating that it is confident in the cost restructuring plan and basic business. As for the bank's latest forecast and market expectations, they are 2.57 and 2.21 US dollars, respectively. The bank quoted Pfizer management as saying that it is cautiously optimistic about the outlook for the rest of the year, including in terms of gross margin. The bank raised Pfizer's earnings forecast per share by 0.2 US dollars for this year, maintaining a “in sync with the market” rating. The target price was raised from $28 to $29, and the company's new product cycle/pipeline progress was monitored to cope with the impact of patent failure.