Pfizer Inc. (PFE:NYE) Wells Fargo Downgrades to Equal Weight, on Poor Outlook

Latest Analyst Coverage

Wells Fargo today, January 17th, issued a research note lowering its rating on Pfizer’s stock to “Equal Weight” from “Overweight” and cut the 12 month target price from “USD 54” to “USD 50”.  Wells Fargo’s “Equal Weight” rating means that the firm believes the stock is fairly valued, and the stock’s performance is likely to be in line, or lower than the overall market.  Wells Fargo believes the company needs to move on from the impact of COVID and is focus on their new pipeline.  The CEO, Albert Bourla, said in May 2021 that he believes the stock is undervalued and that investors will eventually recognize this, but investors believe Pfizer is a Covid stock, and will continue to suffer until they emerge under a new narrative.

Recent Analyst Ratings:

STA Research maintained an “Underperform” rating with a target price of “USD 40” on January 4th, 2023.
Bank of America Securities downgraded the stock from “Neutral” to “USD 60” on January 4th, 2023.
Morgan Stanley maintained an “Equal-Weight” rating with a target price of “USD 51” to “USD 53” on December 14th, 2022.
Goldman Sachs upgraded the stock from “Buy” to “USD 47” to “USD 60” on December 13th, 2022.

PFE Stock Forecast and Analysis

According to stock forecasts from 12 analysts, the average target price for Pfizer’s stock over the next 12 months is USD 50.62. The average analyst rating for the company is “Hold” and Stock Target Advisor’s own analysis is “Slightly Bullish” based on 9 positive and 6 negative signals. Pfizer Inc’s current stock price is USD 47.85 and it has changed by -1.12% over the past week, -6.91% over the past month, and -12.92% over the last year.

Pfizer Expands Charity Drug Program

Pfizer has announced an expansion of its program to offer its products at not-for-profit prices in poor countries to include 500 drugs and vaccines. The program, called An Accord for a Healthier World, which is available in 45 low- and lower-middle-income countries, had previously offered just 23 products at the lower prices. The program was announced at the 2022 World Economic Forum in Davos, Switzerland and its aim is to lower prices for treatments for infectious diseases, certain cancers, and rare and inflammatory diseases that annually take the lives of about 1 million people in the affected countries.

 

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