Guggenheim lowered the firm’s price target on Pfizer to $33 from $36 and keeps a Buy rating on the shares. The firm published revised versions of its large cap biopharmaceuticals company models after incorporating various recent updates and their recent 10-K filings. For Pfizer, full incorporation of the financing needed for the Seagen deal lowers the firm’s target, though this is partially offset by increased probability-adjusted revenue estimates for multiple oncology products following the company’s recent Oncology Innovation Day, the analyst tells investors.
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