Pfizer: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has upgraded its rating on the Pfizer stock to buy (from hold), while raising its target price to $39 (from $38), following the group's new targets for FY 2023.
This target represents around 21% upside potential on Friday's closing price.
COVID revenues have been reduced by $9bn and the group has announced a cost-cutting program ($3.5bn reduction in 2023-24).
"Guidance revision is largely driven by Pax; 2) Comirnaty performance ahead of buyside expectations; 3) Cost cuts of $3.5B," the analyst says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
This target represents around 21% upside potential on Friday's closing price.
COVID revenues have been reduced by $9bn and the group has announced a cost-cutting program ($3.5bn reduction in 2023-24).
"Guidance revision is largely driven by Pax; 2) Comirnaty performance ahead of buyside expectations; 3) Cost cuts of $3.5B," the analyst says.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.