Morgan Stanley raised the firm’s price target on Pfizer to $29 from $28 and keeps an Equal Weight rating on the shares after the company posted a Q1 beat, reiterated 2024 revenue guidance and raised 2024 EPS guidance. Management commentary on the call “suggested cautious optimism on the outlook for the remainder of the year,” though the firm maintains its Equal Weight rating given its focus on new product cycles and pipeline progress to address upcoming patent cliffs, the analyst tells investors.
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