Courtney Breen, an analyst from Bernstein, maintained the Hold rating on Pfizer. The associated price target remains the same with $30.00.
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Courtney Breen’s rating is based on Pfizer’s recent financial performance and strategic developments. The company reported solid third-quarter earnings, meeting revenue expectations and surpassing earnings per share predictions. This positive financial outcome was supported by reduced research and development expenses and a lower effective tax rate, which led to an upward revision of the full-year earnings guidance.
Despite these positive indicators, Breen maintains a Hold rating due to ongoing challenges and uncertainties. The delay in key pipeline projects, such as the MagnetisMM-5 trial and the PCV-25 vaccine trial, suggests potential hurdles in Pfizer’s growth trajectory. Additionally, while there is evidence of progress in resetting the company’s base, concerns about patent pressures and the need for further clarity on growth pathways contribute to the cautious outlook.
According to TipRanks, Breen is a 3-star analyst with an average return of 7.2% and a 75.76% success rate. Breen covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Amgen, and Gilead Sciences.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $32.00 price target.