Is Pfizer Stock a Buy Now?
Over the past year, Pfizer (NYSE: PFE) has been one of the safer stocks to hold. Its 31% gain during that time eclipses the S&P 500 and its 9% loss. However, investors still aren't paying a huge premium for the stock as it trades at a relatively modest 12 times profits.
The company has been acquiring businesses to get stronger and more diverse in a post-COVID world. And at the same time, the Food and Drug Administration (FDA) has been expanding the age group that can use its vaccine. Is the stock worth buying today?
The biggest reason investors may not be all that impressed with Pfizer is that its business has become too heavily dependent on COVID-19. This year, the company expects to generate $54 billion in sales from its COVID-19 vaccine and pill. That's more than half of the $102 billion it expects it could report in total revenue this year. And with the FDA recently granting Emergency Use Authorization for children between the ages of six months to four years, there's now an even wider pool of people who can access the vaccine.
Source Fool.com
