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).


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