Cantor Fitzgerald Believes Pfizer (PFE) Still Has Room to Grow


In a report released yesterday, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Pfizer (NYSE: PFE), with a price target of $45. The company’s shares closed yesterday at $40.81, close to its 52-week high of $41.64.

Chen noted:

“. We reiterate our OW rating and $45 PT on PFE. We think the peak sales potential of one of PFE’s key growth drivers, Xeljanz, is underappreciated. Xeljanz is increasingly becoming a go-to product for rheumatologists and GIs because of its broad array of indications, ease-of-use and good tolerability profile. Within the past year, Xeljanz has received approval for two additional indications, psoriatic arthritis (PsA) and ulcerative colitis (UC). We expect the combination of the new indications to add $1B+ of sales to Xeljanz. For context, PFE reported $1.3B of sales for of sales for the entire company.”

According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -4.8% and a 40.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Aclaris Therapeutics Inc.

Pfizer has an analyst consensus of Moderate Buy, with a price target consensus of $41.43, representing a 1.5% upside. In a report issued on July 31, BMO Capital also assigned a Buy rating to the stock with a $44 price target.

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The company has a one-year high of $41.64 and a one-year low of $32.32. Currently, Pfizer has an average volume of 20.14M.

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