The recent market downturn has made some solid stocks look downright cheap. That's the case for pharma-giant Pfizer (NYSE: PFE), a leader in the coronavirus vaccine market and maker of many other medications as well.

The stock currently sports a very reasonable forward price-to-earnings (P/E) ratio of 7.4. Compare this to a P/E of 12.5 for the entire pharmaceutical industry.And Pfizer has other things to offer as well, including excellent long-term growth prospects and an attractive dividend.

The drugmaker may be underperforming the market this year, but a deeper look at the company's business reveals that it's a solid pick for long-term investors. Let's see why.

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Source Fool.com