Pfizer price target lowered to $24 from $28 at UBS

UBS analyst Trung Huynh lowered the firm’s price target on Pfizer (PFE) to $24 from $28 and keeps a Neutral rating on the shares. The firm says Q1 consensus numbers on Paxlovid and Comirnaty appear too high, but if danuglipron data is disclosed on the day of Q1 results, danu moving into a large Phase 3 obesity program would negate a poor quarter, the analyst tells investors in a research note. UBS says it needs to see a stabilizing tail from the COVID business, continued growth in key assets, and execution on the pipeline to become more constructive on the name.