Pfizer is primed for a breakout year

Article Excerpt

Pfizer has stayed in a narrow range of $32 to $42 in the past year. However, we feel two recent developments will let it move higher in the next few years and spur your returns. The first is Pfizer’s development of an effective COVID-19 vaccine. In addition to huge current demand from countries around the world, it looks like people will need annual booster shots for the next few years as new COVID variants emerge. The second factor is the company’s recent spinoff of its generic drug business. That lets Pfizer focus on its more-profitable branded drugs and vaccines. PFIZER INC. $39 is a buy. The company (New York symbol PFE; Income Portfolio, Manufacturing & Industry sector; Shares outstanding: 5.6 billion; Market cap: $218.4 billion; Price-to-sales ratio: 5.2; Dividend yield: 4.0%; TSINetwork Rating: Above Average; www.pfizer.com) began operating in 1849 and is now one of the world’s largest makers of prescription drugs. Its top-selling brands include Eliquis (stroke), Ibrance (breast cancer) and Prevnar (pneumonia). Seven of…