BUZZ-Street View: Pfizer's growth forecast comes with caveats

Reuters05-02

** Pfizer lifted its annual earnings forecast on Wednesday and reported Q1 profit above estimates, boosted by cost cuts and stronger-than-expected sales of its COVID antiviral treatment

** The stock closed at $27.18 on Weds vs analysts median PT of $30.50 -LSEG data

NEAR-TERM CHALLENGES

** Bofa Global Research ("neutral," PO: $35) says co remains in a challenging position to meet growth expectations through second half of the year and into 2025

** However, believes co will be able to manage debt repayment and dividends

** J.P.Morgan ("neutral," PT: $30) says stronger new launch performance and/or further progress on the pipeline will be necessary going forward

** JPM expects improvement in gross margin and oral antiviral Paxlovid sales through the year

** Cantor Fitzgerald ("overweight," PT: $45) says lowering costs will put it on strong footing towards margin expansion and improved financial returns

** Truist Securities ("buy," PT: $36) sees near-term "beat & raise as PFE executes commercially" and sees longer-term growth from label expansions across key products including Litfulo, Velsipity, and substantial oncology portfolio

(Reporting by Priyadarshini Basu in Bengaluru)

((priyadarshini.basu@thomsonreuters.com))

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