Goldman Sachs downgraded Pfizer (PFE) to Neutral from Buy with a price target of $25, down from $32, after assuming coverage of the name. The firm says that on the back of a challenging past two years which the company saw downward revisions around COVID related revenue expectations, it expects the shares to remain rangebound. Pfizer faces base business pressure, with greater clarity needed on acquisitions and pipeline levers required to necessitate a sustained stock re-rating, the analyst tells investors in a research note.
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