In a report released yesterday, Evan Seigerman from BMO Capital maintained a Buy rating on Pfizer (PFE – Research Report), with a price target of $36.00.
Evan Seigerman has given his Buy rating due to a combination of factors that suggest Pfizer’s stock is undervalued relative to its peers in the U.S. BioPharma sector. Despite the setback in its obesity program with the discontinuation of Danuglipron, Pfizer’s commitment to the obesity/metabolic space remains strong, with ongoing development of other promising assets and potential strategic partnerships.
Furthermore, Pfizer’s financial position is bolstered by transformative acquisitions funded by COVID-related revenue, which enhance its pipeline and potential for future growth. The company’s attractive dividend yield, coupled with the potential for top-line growth and margin expansion, supports the belief that the market has not fully appreciated Pfizer’s fundamental strengths.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $32.00 price target.
PFE’s price has also changed moderately for the past six months – from $29.080 to $22.120, which is a -23.93% drop .