Jefferies analyst Akash Tewari lowered the firm’s price target on Pfizer to $38 from $40 and keeps a Hold rating on the shares. COVID revenues were below consensus and in line with the firm’s lowered estimates heading into Q2, which fiscal year sales guidance was lowered to $67B-$70B, noted the analyst, who contends that Pfizer “remains in the penalty box” given a lack of visibility for a second half acceleration.
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