Pfizer Kept at Hold as Pipeline Uncertainty and LOE Risks Temper Upside, Price Target Cut to $26

Analyst Asad Haider of Goldman Sachs maintained a Hold rating on Pfizer, reducing the price target to $26.00.

Asad Haider has given his Hold rating due to a combination of factors, including Pfizer’s status as the cheapest major U.S. pharma name on forward earnings and its recent share outperformance, which already reflects modest expectations. He sees near-term results as broadly in line with consensus, with COVID and Vyndamax weakness largely balanced by strength from Eliquis, so earnings alone are unlikely to re-rate the stock substantially.

At the same time, he highlights considerable uncertainty around how well the pipeline can offset sizable loss-of-exclusivity pressures by 2030, and he views the tafamidis patent litigation as important but not transformative even in a favorable scenario. Upcoming clinical and medical meeting catalysts in oncology, diabetes, and obesity could incrementally de-risk the story, yet limited deal-making capacity and the revised lower price target of $26 underscore a risk-reward profile that he sees as balanced rather than compelling, supporting a Hold stance.

In another report released on April 21, Bernstein also maintained a Hold rating on the stock with a $30.00 price target.