Is Pfizer Stock a Buy Now?
Pharma giant Pfizer (NYSE: PFE) faces an immediate threat because the company's sales of its coronavirus products will drop substantially in 2023. That should lead to lower revenue than the past couple of years for the drugmaker, which is not something investors want to see.
Perhaps that's why Pfizer's shares are down by 20% so far this year, even as the broader market has been rallying since early January. Even so, there is a lot to like about Pfizer, but does the potential upside outweigh the risks? Let's find out.
It's not that unusual for pharmaceutical giants to go through one or two years of declining revenue, especially due to patent cliffs. Pfizer's upcoming decreasing top line is for an entirely different reason. The company generated record revenue over the past couple of years thanks to its coronavirus products. With the pandemic receding, that won't happen anymore.
Source Fool.com
