(Updated - February 5, 2020 4:46 PM EST)
(updating analyst comment)
Mizuho Securities analyst Vamil Divan initiates coverage on Pfizer with a Buy rating and a price target of $42.00.
The analyst comments "Following the weakness after 4Q19, we see an opportunity for investors ahead of the Mar 31 R&D Day and multiple 2020 Phase 2 and 3 data releases. We are bullish on marketed assets Vyndamax and Ibrance (including in the adjuvant setting) and see products such as Eliquis, Xtandi and Xeljanz also helping “New Pfizer” (ex-Upjohn) drive 7%+ sales and 9%+ income CAGR from 2020-2025. Upcoming pipeline readouts, especially in immunology, vaccines and oncology, should provide added comfort with Pfizer’s outlook in 2026 and beyond. A ~4%+ dividend yield provides further support and pays investors as they wait for upcoming catalysts to play out."