Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on Pfizer (PFE) today and set a price target of $53. The company’s shares closed on Friday at $42.40.
Chen observed:
“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. Therefore, 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 12.1% and a 42.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Pfizer has an analyst consensus of Moderate Buy, with a price target consensus of $48.29.
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Pfizer’s market cap is currently $245.1B and has a P/E ratio of 22.77. The company has a Price to Book ratio of 3.44.
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