Stock price when the opinion was issued
Valuation of 10x forward PE. People are missing that they took the windfall from Covid and have redeployed it into acquiring assets, mainly in oncology drugs. We should start to see the growth from that spending in the next couple of years. Could get them to start growing again. Meanwhile, vaccines are still a core position. Yield is 6.5%.
Downside support, upside potential, a bit of earnings growth, low valuation.
If he's right about a correction in 2025, money managers will rotate into defensive areas like staples, utilities, healthcare and REITs. Their chart was in a big downtrend in recent years. PFE's chart has a double bottom this year. Relative strength is moving up. Also, volumes has popped around $25 (trough). The risk/reward is good. You're paid 6.5% to wait, too. $25 is big technical support.
(Analysts’ price target is $32.04)