Wells Fargo analyst Mohit Bansal lowered the firm’s price target on Pfizer (PFE) to $44 from $50 and keeps an Equal Weight rating on the shares. Pfizer’s ability to grow Seagen (SGEN) is a show-me story, and Wells Fargo thinks the stock at ~15x 2023 ex-COVID PE is still not cheap for the growth profile, the analyst tells investors in a research note.
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Published first on TheFly
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