Pfizer initiated with a Neutral at Cantor Fitzgerald

Cantor Fitzgerald analyst Carter Gould initiated coverage of Pfizer (PFE) with a Neutral rating and $24 price target Pfizer made “concrete progress” on its cost-base and margins over 2024, but still underperformed the market for the sixth time in seven years as the upcoming stacking of losses of exclusivity has been an anticipated headwind for “the better part of a decade,” the analyst tells investors. The firm still sees consensus that as “overly optimistic” on its views of erosion curves and under-appreciative of competitive pressures on Vyndamax and Prevnar, the analyst added.