2024-06-18 05:56:25 ET
Summary
- Pfizer's stock initially showed signs of recovery, but then stagnated while the rest of the market continued to grow. However, I expect a recovery in the medium term.
- The Company's Q1 results showed strong performance in non-COVID products and cost-saving measures, leading to analyst sentiment improvement.
- The recent Wall Street earnings estimates indicate that the Street expects PFE to bottom out in FY2024 in terms of EPS and that fundamentals will then rebound.
- Despite risks like patent expirations, Pfizer's undervaluation by at least 36.7% and growth opportunities make it a good long-term investment.
- The reversal should keep going, hence my "Strong Buy" rating.
Into & Thesis
I reinitiated my coverage of Pfizer Inc. ( PFE ) stock at the end of December 2023. Since then, I have published only two articles, which, unfortunately, haven't proven effective in terms of performance: PFE's total return has remained stagnant, hovering around 0% over the past few months, while the S&P 500 index ( SP500 ) ( SPX ) has reached new all-time highs....
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Pfizer Stock: The Reversal Should Keep Going