Analyst Trung Huynh downgraded the pharmaceutical stock to neutral from outperform.
Pfizer 's underperformance could be here to stay, Credit Suisse warned. Analyst Trung Huynh downgraded the pharmaceutical stock to neutral from outperform and cut his price target by $7 to $40. His new target still implies shares could rally 10.2% over the next year. "As Pfizer enters a period of uncertainty and limited pipeline catalysts, we see greater opportunity for growth among other US Major peers," Huynh said in a Thursday note to clients.
Huynh thinks the base business grow 4% between 2020 and 2025, which is lower than the company's forecast of 6% but above the consensus estimate of 3%. Pfizer has been his worst performing call since the outperform rating at the end of November, with shares underperforming major pharmaceutical peers in the U.S. by 26%.
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