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Pfizer downgraded to Equal Weight from Overweight at Wells Fargo
The Fly

Pfizer downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo analyst Mohit Bansal downgraded Pfizer to Equal Weight from Overweight with a price target of $50, down from $54. Bansal thinks an earnings down-revision cycle is coming in the near-term and sees margin pressure on the core business due to increased investments in new launches. While he thinks the company could have an attractive long-term profile, the analyst thinks a "COVID reset" may be needed before the stock could work again.

Published first on TheFly

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