BUZZ-Citi cuts PT on Pfizer as revenue flattens
Citi Research cuts PT on pharmaceutical giant Pfizer PFE.N to $29 from $30, citing stagnant revenue growth and policy changes
Brokerage says specialty care business will be affected by Inflation Reduction Act part D changes, which will affect how Medicare beneficiaries pay for prescription drugs
"While company is tightlipped on Danuglipron future, they are all in on obesity and continue to develop additional next gen molecules demonstrating continued interest," brokerage says
New PT represents 8% upside to stock's last close
PFE, set to release its Q4 earnings next week, beat adjusted EPS estimates for 15 straight quarters
12 of 26 brokerages rate stock "buy" or higher, 13 "hold" and 1 "sell" or lower; median PT is $31.5 - LSEG data
Stock fell 8% in 2024, compared with 23% increase in S&P 500 index .SPX
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