Pfizer Sees Less Revenue From Covid-19 Treatments, Stock Faces Headwinds Ahead Of Q1 Earnings
Portfolio Pulse from Surbhi Jain
Pfizer Inc (NYSE:PFE) faces headwinds as its stock declines due to decreased revenue from COVID-19 products, down 34.61% over the past year and 10.94% YTD. Ahead of Q1 earnings, Wall Street expects 49 cents EPS and $13.09 billion in revenues. The stock's forward dividend yield is 6.55%, with a focus on management's plans for debt reduction and dividend maintenance. Technical analysis shows a bearish trend, with the stock trading below key moving averages and negative indicators such as MACD and RSI. Analyst consensus rates PFE as Neutral with a price target of $40.54, while Cantor Fitzgerald sets a target at $45.
April 30, 2024 | 3:18 pm
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Pfizer Inc faces decreased revenue from COVID-19 products, impacting its stock performance negatively. The company is expected to report 49 cents EPS and $13.09 billion in revenues for Q1. Despite a high dividend yield, technical analysis indicates a bearish trend. Analysts rate the stock as Neutral with a price target of $40.54, suggesting potential upside.
The significant decline in Pfizer's stock due to reduced COVID-19 revenue, combined with bearish technical indicators, suggests a negative short-term impact. However, the analyst consensus and specific targets from firms like Cantor Fitzgerald indicate a belief in potential recovery, which could mitigate some of the negative sentiment. The high dividend yield and focus on debt reduction and dividend maintenance are positive, but the overall market sentiment and technical analysis weigh heavily on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100