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 yesterday at $44.28, close to its 52-week high of $45.81.
“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 15.0% and a 42.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pfizer with a $44.55 average price target, implying a 0.6% upside from current levels. In a report issued on October 30, BMO Capital also maintained a Buy rating on the stock with a $47 price target.
Pfizer’s market cap is currently $259.6B and has a P/E ratio of 11.21. The company has a Price to Book ratio of 3.72.
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