Analysts Divided Over Pfizer's Outlook, Some See Positives Amid Negative Sentiment
Portfolio Pulse from Vandana Singh
Pfizer Inc (NYSE:PFE) has reduced its full-year earnings and revenue guidance for 2023 due to decreasing demand for its COVID-19 products. BMO Capital Markets has lowered the price target for Pfizer from $44 to $33 with an Outperform rating. Goldman Sachs maintains a price target of $54 and sees net positives in the guidance revision. Cantor Fitzgerald suggests it's a good time to reconsider Pfizer's stock as new product launches should boost sales growth in Q4 FY23.
October 16, 2023 | 5:56 pm
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Pfizer's lowered guidance for 2023 due to decreasing demand for its COVID-19 products has led to mixed analyst ratings. BMO has lowered its price target while Goldman Sachs maintains its target, seeing net positives in the revision. Cantor Fitzgerald suggests reconsidering Pfizer's stock due to potential new product launches.
Pfizer's lowered guidance due to decreasing demand for its COVID-19 products has led to a decrease in BMO's price target. However, Goldman Sachs sees net positives in the revision and maintains its price target. Cantor Fitzgerald suggests that new product launches could boost sales growth, potentially leading to an increase in the stock's value. The mixed analyst views suggest a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100