Pfizer (PFE) Receives a Buy from Cantor Fitzgerald

By Austin Angelo

Cantor Fitzgerald analyst Louise Chen reiterated a Buy rating on Pfizer (NYSE: PFE) today and set a price target of $53. The company’s shares closed yesterday at $43.93, close to its 52-week high of $45.81.

Chen wrote:

“. We reiterate our Overweight rating and raise our 12-month PT for PFE shares to $53 from $45. The increase in our PT is driven by multiple expansion. We think this is deserved because respectable earnings growth, driven by Innovative Medicines, recent pipeline advancements, and return of capital to PFE’s shareholders — above the industry average — are all still underappreciated.”

According to TipRanks.com, Chen is a 5-star analyst with an average return of 11.8% and a 42.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.

Currently, the analyst consensus on Pfizer is a Moderate Buy with an average price target of $43.73.

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Pfizer’s market cap is currently $257.5B and has a P/E ratio of 11.78. The company has a Price to Book ratio of 3.69.

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