BMO Capital analyst Evan Seigerman maintained a Buy rating on Pfizer yesterday and set a price target of $34.00.
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Evan Seigerman has given his Buy rating due to a combination of factors tied to Pfizer’s vaccine franchise strength and broader fundamentals. He views the new 25-valent pneumococcal vaccine as clinically differentiated, with stronger immune responses and broader serotype coverage than current options, which should help preserve and extend Pfizer’s leading position in this large, durable market.
He also notes that the Prevnar franchise is a key contributor to Pfizer’s primary care revenue base and appears well positioned for continued growth as Phase 3 programs progress in both pediatric and adult populations. In addition, he believes the market underestimates Pfizer’s earnings power and pipeline potential following a series of acquisitions funded by COVID-era cash flows, supporting an unchanged $34 price target and an Outperform (Buy) recommendation on PFE.
In another report released on May 6, Jefferies also maintained a Buy rating on the stock with a $35.00 price target.