Morgan Stanley analyst Terence Flynn maintained a Hold rating on Pfizer (PFE – Research Report) yesterday and set a price target of $31.00.
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Terence Flynn’s rating is based on a mix of factors influencing Pfizer’s current and future performance. The company had a relatively uneventful quarter, maintaining its 2025 guidance, which includes expected sales between $61.0 billion and $64.0 billion and an EPS range of $2.80 to $3.00. Adjustments were made to the EPS projections, increasing them to $3.11 due to anticipated lower operational expenses.
Product cycles and future pipeline developments also play a significant role in the Hold rating. While Pfizer’s COVID-19 products showed signs of stabilization, and there is optimism about the growth potential of certain products like Elrexfio, the outlook for others like the RSV vaccine appears less favorable, with market expectations below consensus. Additionally, ongoing trials and studies, such as those for Danuglipron and Vepdeg, represent potential future catalysts but carry uncertainties. Lastly, Pfizer’s balanced approach to capital allocation, focusing on dividend growth and debt reduction while having the capacity for mergers and acquisitions, supports the Hold recommendation.
In another report released yesterday, UBS also maintained a Hold rating on the stock with a $29.00 price target.