My Top Value Stock to Buy In 2023
The past three years have been significant for pharma giant Pfizer (NYSE: PFE) and its shareholders. The drugmaker's achievements in the COVID-19 vaccine and medicine market have been particularly noteworthy. But that success could start waning this year -- and it's a key reason why some investors aren't so sure about Pfizer's near-term prospects.
But there are some arguments on the other side, too. For instance, Pfizer's shares remain reasonably valued. The drugmaker's forward price-to-earnings ratio currently sits at a respectable 10.4, compared to the S&P 500's 18.8 and the pharmaceutical industry's 14.8. There are more reasons to buy Pfizer's shares, especially at current levels. Let's consider some of them.
Pfizer could see its revenue drop substantially in 2023 as sales of its coronavirus lineup decrease. Elsewhere, the company's immunology medicine Xeljanz is also having trouble due to safety-related issues. So the drugmaker will have to look elsewhere for growth, and the company's current portfolio of medicines is limited.
Source Fool.com
