In a report released today, Nico Chen from DBS maintained a Buy rating on Pfizer (PFE – Research Report), with a price target of $30.00.
Nico Chen has given his Buy rating due to a combination of factors that highlight Pfizer’s strong financial performance and promising future prospects. The company’s Q4 2024 results exceeded expectations, driven by effective cost management and better-than-anticipated sales of COVID-related products. This resulted in a significant increase in revenue and a notable turnaround in net income compared to the previous year.
Nico Chen also points to Pfizer’s strategic developments as key drivers for future growth. The clinical progress of Danuglipron, an oral GLP-1 drug for diabetes and weight loss, is expected to bolster Pfizer’s market position, especially after optimizing the drug for a once-daily regimen. Additionally, the acquisition of Seagen and the development of antibody-drug conjugates (ADCs) in collaboration with Summit Therapeutics are anticipated to enhance Pfizer’s oncology portfolio, providing further momentum for the stock. These factors, combined with a target price based on a favorable price-to-earnings ratio, underpin the Buy rating.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock.