BofA reinstated coverage of Pfizer (PFE) with a Neutral rating and $29 price target Uncertainty over COVID revenue streams plus a “tough” base business outlook explain the stock’s “very low” multiple, but keeps it there, the analyst tells investors while reinstating coverage of 11 large-cap U.S. pharma and biotech stocks. The dividend yield of 6.6% likely puts a floor under shares, the analyst added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFE:
- Apple (AAPL) Named Best Managed Company of 2024
- Pfizer put volume heavy and directionally bearish
- Truist biopharma analyst to hold an analyst/industry conference call
- Whitefort Capital sends letter to Arbutus Biopharma board of directors
- Moderna (MRNA) Stock Declines 87% in Three Years: 3 Key Points
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue