PFE
UBS says: a little more upside, same old Neutral
UBS Group AG bumped Pfizer’s price target to $27 from $25 on April 13 and left the shares at Neutral. So yes, it’s a raise — but the financial equivalent of giving someone a slightly bigger slice of pizza, not handing them the whole pie.
Why the tweak matters
The move came as part of UBS’s Q1 preview for the pharma and biotech group, where it adjusted several targets. For Pfizer investors, that matters because the stock is still trying to prove it can grow without leaning on the COVID-era revenue crutch.
Pfizer’s own story is still the real plotline
Management has said it’s sticking with its 2026 outlook:
- revenue: $59.5 billion to $62.5 billion
- adjusted diluted EPS: $2.80 to $3.00
CFO David Denton also said COVID-related products should keep fading, with revenue around $5 billion in 2026. The brighter bit? Pfizer says the non-COVID portfolio should hold steady, even after about a $1.5 billion headwind from generic competition.
The long game
At the midpoint of guidance, Pfizer expects revenue excluding COVID products and loss-of-exclusivity hits to grow about 4% on an operational basis versus last year. And management is eyeing the first approvals from its obesity pipeline starting in 2028 — which is very much a future-tense story, but one investors are already pricing like a Netflix teaser trailer.
Big picture: UBS isn’t pounding the table here, but the higher target suggests Pfizer’s setup may be a little less meh than before.