Mohit Bansal, an analyst from Wells Fargo, maintained the Hold rating on Pfizer. The associated price target remains the same with $28.00.
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Mohit Bansal has given his Hold rating due to a combination of factors that reflect both potential strengths and challenges for Pfizer. The company is expected to slightly exceed revenue expectations, driven by strong performance in products like Comirnaty, Vyndaqel, and Ibrance, which could offset the negative impact from Part D Redesign. This anticipated revenue beat, along with controlled operating expenses, might lead to a modest earnings per share (EPS) increase.
However, there are also areas of concern that justify the Hold rating. While demand for Eliquis in the U.S. remains strong, it faces pricing pressures. Additionally, the demand for Nurtec has slowed, and while vaccines like Prevnar show potential, they are also subject to competitive pricing challenges. The mixed performance across different segments and the uncertainties in the market, particularly with COVID-related products, contribute to the cautious stance on Pfizer’s stock.
In another report released yesterday, Bernstein also assigned a Hold rating to the stock with a $30.00 price target.
PFE’s price has also changed slightly for the past six months – from $26.860 to $25.620, which is a -4.62% drop .