Is Pfizer Stock a Buy Now After Earnings?
While the COVID-19 pandemic is an increasingly distant memory for most investors, (NYSE: PFE) has struggled to move past the overhang of record vaccine sales and earnings in 2021 and 2022. The stock is down about 53% from its all-time high as the market wonders whether the pharmaceutical giant can find its next blockbuster drug.
The good news is that the company's latest results highlighted a growth rebound. Sales momentum from several recent product launches supports an improving outlook. Could Pfizer stock -- which currently has a compelling dividend yield of 5.8% -- make a good addition to your portfolio now? Here's what you need to know.
The challenge for Pfizer right now is to rebuild investor confidence with evidence that its long-term strategy is back on track. Fortunately, the company's second-quarter earnings (for the period ended June 30) have worked to move in that direction. Revenue growth turned positive, up 3% year over year, but an even more impressive 14% higher excluding the impact of the declining Comirnaty and Paxlovid COVID-19 programs.
Source Fool.com
Pfizer Inc. Stock
The stock is one of the favorites of our community with 31 Buy predictions and 4 Sell predictions.
As a result the target price of 41 € shows a very positive potential of 61.48% compared to the current price of 25.39 € for Pfizer Inc..
