Hold Pfizer: target of Rs 6690: ICICI Direct
ICICI Direct recommended hold rating on Pfizer with a target price of Rs 6690 in its research report dated July 29, 2021.
August 02, 2021 / 12:11 PM IST
ICICI Direct's research report on Pfizer
Pfizer collectively addresses 15 therapy areas with a portfolio of over 150 products that include therapeutics & vaccines. The company has been continuously restructuring its portfolio in the last few years to improve the productivity of its core brands Fourth largest multinational pharma company in India Manufacturing facility in Goa with run rate of 1 billion tablets per annum
We remain positive but change our rating from BUY to HOLD on the stock due to recent run up. We value Pfizer at Rs 6690 i.e. 40x P/E on FY23E EPS
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