Pfizer Inc. (NYSE: PFE) led all NYSE stocks on March 21 by trading 65.97 million shares, which was about 1.5 times its three month average, and closed at $26.28, up 0.34 percent.
Haleon Stake Sale Unlocks Billions for R and D:
Pfizer sold its remaining 7.3 percent stake in consumer health spinoff Haleon for $3.24 billion, freeing cash to invest in core drug research and development.
With a dividend yield of 6.54 percent, Pfizer remains attractive to investors seeking steady income amid moderate growth expectations.
Analysts Eye Double Digit Upside
Stock Target Advisor highlights Pfizer’s low earnings multiple and strong cash flow as reasons shares could be undervalued. The average analyst price target of $31.92 implies roughly 21 percent upside from current levels.
FDA Approvals Keep Pipeline Strong
Recent approvals of Padcev combination therapy and improved survival results for Talzenna plus Xtandi in prostate cancer bolster Pfizer’s oncology franchise, offsetting anticipated declines in Covid vaccine and antiviral revenue.
Shares are trading between support at $25.85 and resistance at $26.54 ahead of Pfizer’s first quarter earnings webcast. A move above resistance could signal renewed momentum, while a drop below support may trigger a short-term pullback.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
