Pfizer Prospects Garner Mixed Sentiment From Analysts: 'Finally, The Pivot Investors Have Been Waiting For'
Portfolio Pulse from Vandana Singh
Pfizer Inc (NYSE:PFE) reported Q1 earnings with adjusted EPS of 82 cents, down 33% YoY but above consensus of 54 cents. Sales were $14.9 billion, down 20%, yet above the $14.2 billion consensus. The decrease was attributed to lower Comirnaty and Paxlovid revenues and a $107 million foreign exchange impact. Analysts have mixed sentiments, with Goldman Sachs maintaining a Buy rating and a $31 price target, BMO Capital raising its target from $33 to $36 with an Outperform rating, and Bank of America Securities keeping a Neutral rating with a $35 target. Key product performances and future catalysts were highlighted, including Padcev, Prevnar, Vindaqel, and potential from Abrysvo. PFE shares rose 2.15% to $27.77.

May 02, 2024 | 7:15 pm
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Pfizer reported higher-than-expected Q1 earnings and sales, with a notable decrease in Comirnaty and Paxlovid revenues. Analysts' ratings vary, with potential growth from new products and label expansions.
The positive earnings report and the mixed but generally optimistic analyst sentiment, especially regarding future product catalysts, suggest a short-term positive impact on Pfizer's stock price. The share price increase following the earnings announcement reflects market optimism.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100