Pfizer: Jefferies confirms buy rating
(CercleFinance.com) - Jefferies maintains its Buy rating on Pfizer shares, with an unchanged price target of $33.
The analyst reports that the 2025 forecasts delivered by the laboratory have exceeded his and the market's expectations, with expected sales of between $61bn and $64bn and EPS of between $2.8 and $3 (largely thanks to lower operating expenses - Pfizer has added a further $500m in cost reductions for 2025).
Overall, we see these 2025 forecasts as a solid, albeit gradual, step, and continue to appreciate the obesity-related potential for 2025, the broker adds.
In this context, Jefferies assures us that it would 'not be surprised' to see EPS tend towards the top of the forecast range (the analyst targets EPS of $2.9), 'despite apparently optimistic forecasts for COVID-19, which also exceed market expectations (implied forecast for COVID-19 of $9.2bn vs. our estimate of $8bn and the consensus of $8.2bn).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The analyst reports that the 2025 forecasts delivered by the laboratory have exceeded his and the market's expectations, with expected sales of between $61bn and $64bn and EPS of between $2.8 and $3 (largely thanks to lower operating expenses - Pfizer has added a further $500m in cost reductions for 2025).
Overall, we see these 2025 forecasts as a solid, albeit gradual, step, and continue to appreciate the obesity-related potential for 2025, the broker adds.
In this context, Jefferies assures us that it would 'not be surprised' to see EPS tend towards the top of the forecast range (the analyst targets EPS of $2.9), 'despite apparently optimistic forecasts for COVID-19, which also exceed market expectations (implied forecast for COVID-19 of $9.2bn vs. our estimate of $8bn and the consensus of $8.2bn).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.