Is Pfizer Stock a Buy Now?
Pfizer (NYSE: PFE) is one of the top healthcare companies in the world. It is known for its COVID-19 vaccine and pill, plus an array of pharmaceutical products that help treat cancer, rare diseases, arthritis, and many other conditions and diseases.
This year, however, has been a tough one for the stock, with its shares slumping 19% since January -- only just slightly better than the S&P 500's 20% decline. Could this stock be a bargain buy right now? Or best to avoid, given the uncertainty it faces around its COVID-19 products?
A key reason investors have been bearish on the stock this year is concern for how strong the company's top line will be in 2023 and beyond. People aren't rushing out to get boosters. Data from the Centers for Disease Control and Prevention show that just half of the adults who have been fully vaccinated for COVID-19 have obtained their first booster shot. Demand looks to be declining, and unless there's a resurgence of COVID-19 cases, that's a trend that's likely going to continue into 2023.
Source Fool.com
