Michael M. Santiago
Summary
- Pfizer’s Q4 FY2023 financials show a significant downturn in consolidated revenues, with a 93% decline in profit for the full year.
- Sales of Comirnaty and Paxlovid, Pfizer’s COVID-related drugs, fell by 70% and 93% respectively in FY2023.
- Despite the decline, Pfizer’s focus on innovation in oncology and cost-saving measures may help offset the effects of the drop in sales.
- I calculate the growth potential at 100%+ in 4-5 years – and this doesn’t even include the dividend yield of 6%+ that a potential investor can secure at today’s prices.
- I’ve therefore decided to upgrade PFE stock to “Strong Buy” today.
- I am Danil Sereda, chief investment officer at a family office. I analyze information that ordinary retail investors do not have access to, and lead the investing group Beyond the Wall Investing.
Introduction
On December 21, 2023, I wrote about Pfizer Inc. (NYSE:PFE) stock for the first time after a long hiatus since initiating coverage in November 2021. Last time, I wrote about PFE appearing oversold and undervalued due to likely underestimated EPS forecasts for FY 2025 and beyond. I urged not to panic, but to think about building a long position at the low price levels. Unfortunately, the PFE stock has since significantly underperformed the broader market:
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