Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, December 20, 2024

Article Excerpt

PFIZER INC., $26.37, New York symbol PFE, is your #1 Income Buy for 2024. The company is one of the world’s largest makers of prescription drugs. Its top-selling brands include Enbrel (arthritis), Ibrance (breast cancer) and Prevnar (pneumonia). With the March 2025 payment, Pfizer will raise your quarterly dividend by 2.4%. Investors will then receive $0.43 a share instead of $0.42. The new annual rate of $1.72 yields a high 6.5%. With this increase, the company has now raised the annual dividend rate each year for the past 15 years. Pfizer also expects its revenue in 2025 will range between $61.0 billion and $64.0 billion. The midpoint of that range—$62.5 billion—is slightly below the consensus forecast of $63.26 billion. That’s largely because the company expects drug price discounts mandated under the  U.S. Inflation Reduction Act will cut $1 billion from its 2025 revenue. However, Pfizer continues to make progress with a new cost-cutting plan. As a result, its earnings in 2025 will probably rise…