PFE - Pfizer Stock: Finally The Market Is Waking Up
2024-05-02 07:14:01 ET
Summary
- Pfizer's Q1 2023 results beat market forecasts, with strong revenue growth and cost management improvements. I think it's the turning point for PFE stock - read on.
- The company expects continued growth from non-COVID drugs and anticipates significant revenue from Comirnaty and Paxlovid.
- Pfizer's stock is undervalued compared to its peers, offering a higher-than-average dividend yield and attractive valuation metrics.
- The anticipated dividend stability, recent revenue growth, and effective cost-cutting initiatives may lure back major investors, potentially igniting a resurgence in Pfizer's stock.
- I have opted to maintain my previous "Buy" rating on the stock.
About 3 months ago, I initiated coverage on Pfizer Inc. ( PFE ) stock with a "Buy" rating, stating that the company's low valuation and strong product pipeline make it the ultimate buying opportunity for income investors in the healthcare sector. Unfortunately, PFE didn't move much in the first quarter of the year - until the company published its results for Q1 2023 on April 30, 2024, and significantly exceeded consensus estimates:
Pfizer Stock: Finally The Market Is Waking Up