Why Pfizer Stock Jumped Today
Shares of Pfizer (NYSE: PFE) rose on Wednesday, following positive analyst commentary.
As of 3:30 p.m. ET, the drugmaker's stock price was up more than 5%.
On Monday, UBS analyst Colin Bristow placed a buy rating on Pfizer's stock and boosted his share price forecast from $52 to $60. Bristow estimates that the pharmaceutical titan will earn at least $14 billion in sales from its new oral antiviral treatment, Paxlovid. The pill has been shown to reduce the risk of hospitalization or death in high-risk patients with COVID-19 by nearly 90% in clinical trials.
Source Fool.com
