2 Beaten-Down Stocks That Could Be Great Buys on the Dip
The stock market has been on fire this year, but much of that performance can be attributed to a handful of tech giants that have a disproportionate weight of the S 500 and are benefiting from the artificial intelligence (AI) boom. Many other stocks have been doing well, but it's not that hard to find those moving in the opposite direction.
Pharmaceutical giant (NYSE: PFE) and social media platform Snap (NYSE: SNAP) belong to this group: Both have significantly lagged behind broader equities since January. Still, Pfizer and Snap might be good picks for long-term investors, especially while they are down.
Pfizer can't catch a break. The drugmaker is still struggling because its revenue and earnings fell off a cliff once its coronavirus medicine and vaccine no longer generated mouthwatering sales. Elsewhere, the company recently reported that one of its promising pipeline candidates, a combination coronavirus/flu vaccine, had mixed results in a pivotal clinical trial. Pfizer has had other pipeline setbacks recently, including in the promising weight loss area.
Source Fool.com
Pfizer Inc. Stock
The stock is one of the favorites of our community with 32 Buy predictions and 4 Sell predictions.
As a result the target price of 41 € shows a very positive potential of 55.19% compared to the current price of 26.42 € for Pfizer Inc..
