2024-05-08 08:30:00 ET
Summary
- Pfizer Inc.'s COVID vaccine revenue plunged to $354M in Q1, indicating a dramatic reset.
- It should help Pfizer potentially outperform moving ahead as it laps easier comps.
- Pfizer is a fundamentally strong stock with a dividend yield of almost 6%.
- I explain why Pfizer stock buyers have likely been accumulating above the $25 level, suggesting a turnaround could be close.
- With the COVID reset likely concluded, Pfizer seems well-positioned for growth opportunities in its Oncology business from 2025.
Pfizer's COVID Revenue Reset
Pfizer Inc. ( PFE ) investors have endured an unprecedented battering in PFE stock as it re-tested lows last seen in March 2020. In addition, PFE has stayed close to the $25 level as the market assessed whether Pfizer could emerge from its post-COVID hangover, even as Pfizer guided $8B in COVID sales for 2024....
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For further details see:
Pfizer Stock: Not A Value Trap, Here's Why