Is Pfizer a Bad News Buy Right Now?
(NYSE: PFE) last year brought in record sales of more than $100 billion thanks to its dominance in the coronavirus prevention and treatment markets. The company sells the top vaccine, Comirnaty, and treatment, Paxlovid. Pfizer's portfolio extends well beyond coronavirus products, with blockbuster drugs in oncology, immunology, and other specialties.
Still, investors' focus has been on the company's coronavirus products over the past few years. That was good for Pfizer earlier in the pandemic, but these days it's weighed on the stock. It's heading for a 39% drop this year. Demand for vaccines and treatments is on the decline. And most recently, Pfizer even lowered its earnings forecast and announced a cost realignment plan following this drop in Demand. Should you flee Pfizer stock right now -- or is the company actually a bad news buy? Let's find out.
Let's start with the bad news first. Pfizer has been closely monitoring vaccine rollout during the current vaccination season, and according to what the company has observed so far, it predicts about 17% of the U.S. population will go for a coronavirus vaccine. And that's prompted Pfizer to lower its forecasts for Comirnaty revenue by $2 billion. The company earlier forecast Comirnaty would generate $13.5 billion this year.
Source Fool.com
Pfizer Inc. Stock
We see a rather positive sentiment for Pfizer Inc. with 15 Buy predictions and 2 Sell predictions.
As a result the target price of 29 € shows a positive potential of 23.12% compared to the current price of 23.56 € for Pfizer Inc..
