Wall Street Analysts Just Trimmed Price Targets for These 5 Stocks

04. Pfizer Inc. (NYSE:PFE)

Price Reaction after the Price Target Cut: -0.53 (-1.99%)

On December 14, UBS Group analyst Trung Huynh maintained a “Neutral” opinion on Pfizer Inc. (NYSE:PFE) and concurrently lowered the target price from $34.00 to $27.00. The decision to maintain a “Neutral” rating suggests a stance of neither strong optimism nor pessimism regarding the stock. Following this adjustment in the target price, the market responded with a decrease in Pfizer Inc. (NYSE:PFE) stock price, reflecting a change of -0.53 (-1.99%). This negative movement may be indicative of the market’s reaction to the revised target and the associated assessment of Pfizer Inc. (NYSE:PFE) future prospects as evaluated by UBS Group.

Diamond Hill Large Cap Strategy made the following comment about Pfizer Inc. (NYSE:PFE) in its Q2 2023 investor letter:

“Our bottom contributors in Q2 included health insurance company Humana, biopharmaceutical company Pfizer Inc. (NYSE:PFE) and global entertainment company Disney. Pharmaceutical giant Pfizer has been dealing with a decline in sales due to lower COVID vaccination levels. Additionally, in 2023, management is increasing spend as the company invests in new product launches. That said, we remain positive about the long-term company fundamentals.”