ICICI Direct has given Hold recommendation for Pfizer with a target price of Rs. 4810 in its research report issued on May 23, 2022
ICICI Direct’s research report on Pfizer
Pfizer collectively addresses 15 therapy areas in domestic formulations with a portfolio of over 150 products that include therapeutics & vaccines. The company has been continuously restructuring its portfolio in the last few years to improve the productivity of its core brands. Fourth largest multinational pharma company in India • Manufacturing facility in Goa with run rate of 1 billion tablets per annum.
Outlook
Downgrade from BUY to HOLD as we keep watch on uptick in growth tempo for ex-top 10 brands and implications of the VRS scheme for field force. Valued at Rs 4810 i.e. 30x P/E on FY24E EPS of Rs 160.3.