In a report released yesterday, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Pfizer (NYSE: PFE), with a price target of $53. The company’s shares closed on Friday at $44.50, close to its 52-week high of $45.81.
Chen wrote:
“We reiterate our OW rating and think respectable earnings growth, driven by Innovative Medicines, pipeline advancements, and return of capital to PFE’s shareholders – above the industry average – are all underappreciated. Thus, we believe multiple expansion and upward earnings revisions should drive PFE shares higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $53.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 11.6% and a 40.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Pfizer is a Moderate Buy with an average price target of $44.45, implying a -0.1% downside from current levels. In a report released yesterday, BMO Capital also assigned a Buy rating to the stock with a $47 price target.
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Based on Pfizer’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $13.47 billion and net profit of $3.87 billion. In comparison, last year the company earned revenue of $13.17 billion and had a net profit of $2.84 billion.
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