Citigroup Forecasts Strong Price Appreciation for Pfizer (NYSE:PFE) Stock

Key Points

• Citigroup has increased its price target for Pfizer's stock from $25.00 to $26.00, suggesting an upside potential of 8.57% from its current trading price.
• Other analysts have also adjusted their price targets, with Goldman Sachs raising theirs to $27.00 and Berenberg Bank lowering theirs to $25.00, reflecting a range of "neutral" and "hold" ratings.
• Pfizer's latest earnings report showed a significant quarterly revenue of $14.65 billion, surpassing estimates and marking a 10.3% increase year-over-year.

Pfizer (NYSE:PFE - Get Free Report) had its price objective increased by equities research analysts at Citigroup from $25.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. Citigroup's price objective indicates a potential upside of 8.57% from the company's current price.

PFE has been the subject of a number of other reports. The Goldman Sachs Group raised their price objective on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Berenberg Bank decreased their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Leerink Partners reduced their price objective on Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Bank of America raised their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, TD Cowen reduced their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Pfizer has a consensus rating of "Moderate Buy" and a consensus target price of $28.44.

Pfizer Price Performance

NYSE:PFE traded down $0.80 during trading hours on Wednesday, hitting $23.95. The company's stock had a trading volume of 65,637,082 shares, compared to its average volume of 46,076,664. The stock has a fifty day simple moving average of $24.39 and a 200-day simple moving average of $24.54. The company has a market capitalization of $136.15 billion, a P/E ratio of 17.35, a PEG ratio of 0.85 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. Pfizer has a twelve month low of $20.92 and a twelve month high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. On average, analysts anticipate that Pfizer will post 2.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. raised its position in Pfizer by 11.1% during the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after purchasing an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK raised its position in shares of Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after acquiring an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in shares of Pfizer in the 1st quarter worth approximately $8,283,000. Alta Advisers Ltd raised its position in shares of Pfizer by 69.6% in the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock worth $809,000 after acquiring an additional 13,100 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in shares of Pfizer by 8.7% in the 1st quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after acquiring an additional 10,051 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.

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