BofA lowered the firm’s price target on Pfizer to $35 from $38 and keeps a Neutral rating on the shares. While the closing of the Pfizer-Seagen deal lifted a major overhang, 2024 guidance dominated headlines and led to the volatility today the analyst tells investors in a research note. The firm added that, over the next five years, it expects to see modest single digit revenue growth ex-COVID but could see upside in oncology as Pfizer looks to leverage its global commercial organization.
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