SGEN - Pfizer's 2030 Vision Bolstered By Seagen Deal Analyst Cuts Price Target Amid Conservative 2024 Forecast | Benzinga
Truist Securities analyst Robyn Karnauskas reiterated a Buy rating on Pfizer, Inc. (NYSE: PFE), lowering the price target to $36 from $42.
While PFE provided lower-than-expected 2024 guidance, primarily driven by the management's conservative $8 billion COVID-19 product forecast, the analyst sees longer-term growth from investment in oncology with the Seagen Inc. (NASDAQ: SGEN) acquisition.
According to the analyst, PFE is in execution mode, headed towards its 2030 vision following recent launches and BD deals.
In addition, Seagen provides Pfizer with an array of proven and promising candidates, catapulting PFE ...