PFE·HealthcareBUY

Pfizer Inc.

Gianfranco Cacciola·August 11, 2026

Price Target

$34

Upside

+27.7%

Investment Thesis

The market is pricing Pfizer as a COVID company in permanent decline. At 8.5x forward earnings with a 6.5% dividend yield, the stock implies the base pharma business has no growth ahead of it. Q2 2026 says otherwise: ex-COVID operational revenue grew 5%, Eliquis rose 19%, and newer products grew 18%. The COVID drag is nearly finished, and the underlying business is growing even if the headlines obscure it.

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Report Details

AnalystGianfranco Cacciola

PublishedAugust 11, 2026

SectorHealthcare

RatingBUY

Price Target$34

Current Price$26.63

For educational purposes only. Not investment advice. Price targets reflect analyst estimates as of the publication date.