JPMorgan says Pfizer needs further pipeline progress to change current narrative

After catching up with Pfizer’s (PFE) Chairman and CEO, CFO, Chief Scientific Officer and Chief Strategy and Innovation Officer at the firm’s healthcare conference, JPMorgan analyst Chris Schott views shares as inexpensive following recent weakness. However, this is balanced against modest top-line erosion over the next five years, says the analyst. While the firm sees several assets in the pipeline, particularly in oncology, that could make the story more interesting, it believes that further advancement and progress on these programs will be necessary to change the current narrative on shares, so it maintains a Neutral rating on Pfizer shares.