6 Stocks Hit 52-Week Highs: PFE, LMT, VAL, BIIB, MSG, BYI

NEW YORK (TheStreet) -- Shares of the following stocks hit 52-week highs on Wednesday: Pfizer(PFE) , Lockheed Martin(LMT) , Valspar(VAL) , Biogen Idec(BIIB) , Madison Square Garden(MSG) and Bally Technologies(BYI) .

Pfizer

The drug company announced on Monday that Nestle is buying its infant nutrition division for $11.85 billion.

Shares of Pfizer hit a 52-week high Wednesday of $22.98. The stock's 52-week low of $16.63 was set on Aug 9.

Pfizer trades at an estimated price-to-earnings ratio for next year of 9.73 times; the average for pharmaceutical companies is 21.49. For comparison, Merck(MRK) has a higher forward P/E of 10.32.

Twenty-one of the 28 analysts who cover Pfizer rated it buy. Five analysts gave the stock a hold rating and two rated it sell.

TheStreet Ratings gives Pfizer an A- grade with a buy rating and $27.96 price target. The stock has risen 5.82% year to date.