Truist analyst Robyn Karnauskas lowered the firm’s price target on Pfizer (PFE) to $32 from $36 and keeps a Buy rating on the shares. The firm is reducing its FY25 EPS view by 9c to $2.97 given competitive pressures and Inflation Reduction Act impact across multiple aspects of the company’s portfolio including Vyndaqel, Xeljanz, Eliquis, and the vaccine portfolio, the analyst tells investors in a research note. Truist adds however that it sees Pfizer’s continued launch execution and growing oncology presence to “right the ship and return to growth”.
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