Pfizer initiated with an Underweight at Barclays

Barclays analyst Emily Field initiated coverage of Pfizer (PFE) with an Underweight rating and $25 price target Pfizer is “managing through a difficult period,” says the analyst, who cites major losses of exclusivity that start this year and are set to accelerate through 2028. Though the valuation is “no doubt compelling,” the firm expects shares to be largely range-bound in the near-term, the analyst added.