Analyst Geoff Meacham from Citi maintained a Hold rating on Pfizer and keeping the price target at $26.00.
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Geoff Meacham has given his Hold rating due to a combination of factors that balance near-term execution with lingering structural challenges. Strong fourth-quarter results, driven by solid oncology performance and encouraging initial data for the monthly oral GLP-1 candidate PF-3944, underscore management’s ability to produce incremental upside. Pipeline catalysts slated for this year—including possible pivotal readouts for Sig-vedotin, Elrexfio, and PF-3945 combinations—suggest Pfizer can craft a new growth story anchored in obesity and oncology.
However, Meacham cautions that the longer-term investment case remains constrained by looming losses of exclusivity and the ongoing drag from U.S. drug pricing reforms under the Inflation Reduction Act. These profit headwinds dampen the benefit of near-term innovation, limiting valuation expansion despite the pipeline momentum. As a result, he views the stock’s risk/reward as balanced and maintains a Hold stance with a $26 price target.
In another report released yesterday, J.P. Morgan also maintained a Hold rating on the stock with a $30.00 price target.