Goldman Sachs analyst Asad Haider has maintained their neutral stance on PFE stock, giving a Hold rating on April 4.
Asad Haider has given his Hold rating due to a combination of factors impacting Pfizer’s stock. The company has faced challenges over the past two years, particularly with downward revisions in COVID-related revenue expectations, leading to pressure on its base business. This situation has resulted in the stock remaining rangebound, with a need for more clarity on mergers and acquisitions and pipeline developments to drive a significant re-rating.
In the near term, Pfizer lacks highly anticipated new product launches and faces uncertainty in large parts of its base business. Additionally, the market is applying a lower valuation multiple to vaccine revenues, which constitute a significant portion of Pfizer’s sales. Although management has identified M&A as a priority to offset expected revenue shortfalls, recent market volatility and an uncertain policy environment may temper expectations regarding the timing of such deals.
According to TipRanks, Haider is ranked #5275 out of 9317 analysts.
In another report released on April 4, J.P. Morgan also maintained a Hold rating on the stock with a $30.00 price target.