In a report released today, Louise Chen from Cantor Fitzgerald reiterated a Buy rating on Pfizer (PFE), with a price target of $53. The company’s shares opened today at $42.55.
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 4-star analyst with an average return of 6.2% and a 34.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on Pfizer is a Hold with an average price target of $44.38.
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Pfizer’s market cap is currently $247.9B and has a P/E ratio of 10.86. The company has a Price to Book ratio of 3.48.
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