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Pfizer (NYSE:) immediately reported Q1 with gross sales coming in forward of expectations – $25.66 billion vs $24.36 billion consensus.
The beat was pushed by the sturdy efficiency of the COVID-19 vaccine enterprise which generated gross sales of $13.23 billion to smash the $10.6 billion consensus. Adjusted EPS got here in at $1.62.
Pfizer additionally reaffirmed steerage for income of $98 billion to $102 billion and EPS of $6.25 to $6.45. Vaccine gross sales for FY2022 are anticipated round $32 billion.
Cantor Fitzgerald analyst Louise Chen maintained an Obese score and a $75.00 per share worth goal.
“We’re assured that PFE can meet its steerage for a five-year income CAGR of a minimum of 6%, and even greater with its COVID-19 franchise and extra mRNA initiatives in growth, which is above our ~4% estimate for the trade common. Subsequently, we imagine PFE’s gross sales progress must be pushed by strong execution and innovation. Therefore, upwards earnings estimate revisions and a number of growth ought to transfer PFE’s shares greater, in our view,” the analyst commented.
BMO analyst Evan David Seigerman is extra cautious in comparison with Chen.
“High- and bottom-line beats, however we predict traders will likely be cautious on the reaffirmations of steerage for Paxlovid and Comirnaty. This might sign a slowing of any kind of Covid-19 profit. Whereas we nonetheless assume there may be demand for Paxlovid, sustaining the January information means that it’s not growing as we transfer from pandemic to a extra endemic state,” Seigerman informed purchasers.
Shares of Pfizer are down half a p.c in pre-open Tuesday.
By Senad Karaahmetovic
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