Bank of America has revised its price target for Pfizer (PFE, Financial), lowering it from $29 to $26, while maintaining a Neutral rating for the pharmaceutical giant's shares. This adjustment reflects the firm's strategic updates and revised projections for the coming years.
The decision comes as the firm anticipates a 2% decline in total revenue estimates for the first quarter. This decrease is attributed to adjustments based on Medicare Part D assumptions and revised predictions for the seasonal performance of Paxlovid, Pfizer's COVID-19 antiviral treatment. Despite these immediate changes, projections for 2025 remain largely unchanged. However, revenue estimates for that year are expected to increase by less than 1%, influenced partly by variations in foreign exchange rates.
Investors are advised to consider these updates as Bank of America provides insights into Pfizer's financial outlook and the various factors impacting its performance projections.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Pfizer Inc (PFE, Financial) is $29.97 with a high estimate of $41.43 and a low estimate of $23.00. The average target implies an upside of 35.37% from the current price of $22.14. More detailed estimate data can be found on the Pfizer Inc (PFE) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Pfizer Inc's (PFE, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Pfizer Inc (PFE, Financial) in one year is $28.62, suggesting a upside of 29.27% from the current price of $22.14. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Pfizer Inc (PFE) Summary page.
