Pfizer (PFE) PT Raised to $27 at BofA Securities

BofA Securities analyst Jason Gerberry raised the price target on Pfizer (NYSE: PFE) to $27.00 (from $26.00) while maintaining a Neutral rating.

The analyst comments "We modestly raise our FY26 sales and EPS forecast based on 1Q beat. Key drivers of 1Q strength warrant modest FY26-28 forecast increase & we update FY29-31E for recent US Vyndamax IP settlement. Pfizer’s LT sales CAGR target (2028-33) is substantially more bullish than cons, but we view attainment as show-me and, potentially, weighted to obesity where the competitive pipeline is hyper-competitive. Disclosure around a Ph1- ready 35v PCV (pneumococcal) is interesting, but lack of supportive data & ability to navigate protein carrier-suppression (key issue with an ultra-high valent PCV’s) remains TBD. We stay Neutral on PFE given balanced risk-reward as strong divi yield limits downside but catalyst path still unconvincing, in our view. Our PO increases to $27 (prev. $26) on modest revisions to our FY27E ‘underlying’ (ex-IPR&D) estimate."

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