2024-05-26 20:00:00 ET
Summary
- Pfizer's stock has hit bottom and could see a boost from bird flu fears.
- Covid-related sales now account for less than 15% of Pfizer's total revenues, de-risking the investment story.
- Pfizer is cutting $4 billion in annual costs and has raised its EPS target for the year.
- The stock only trades at 10x '25 EPS targets while offering investors a nearly 6% dividend yield.
Pfizer ( PFE ) (PFE:CA) hasn't been a favorite biopharma play due to the unsustainable Covid boost, leading to a period of sales declines. The stock appears to have hit bottom and could get a push higher from the bird flu fears, though the company is now too focused on cost cuts. My investment thesis is now slightly bullish on the stock due to the cheap valuation....
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For further details see:
Pfizer: Turning The Corner (Rating Upgrade)