Why Pfizer Stock Is Perking Up Today
Shares of pharma titan Pfizer (NYSE: PFE) were up by 2.24% on moderate volume as of 2:29 p.m. ET Wednesday afternoon. The drugmaker's stock is trending higher despite every major U.S. stock index being in the red today.
What's behind Pfizer's relative strength today? Earlier Wednesday, The Wall Street Journal published a column questioning whether investors have turned too bearish on COVID-19 vaccine-makers like Pfizer. Pfizer's shares have fallen by as much as 30% this year in response to the anticipated drop in sales for its COVID-19 vaccine Comirnaty and antiviral treatment Paxlovid.
At peak bearishness, Pfizer's dividend yield hit a whopping 4.5% on an annualized basis. What's more, the drugmaker's stock has consistently been the cheapest -- based on multiple valuation metrics -- within its big pharma peer group in 2023.
Source Fool.com
Pfizer Inc. Stock
With 15 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 29 € there is a positive potential of 31.67% for Pfizer Inc. compared to the current price of 22.03 €.
