Bearish
HSBC downgrades Pfizer (PFE) to 'Hold' with $28 target amid pipeline concerns.
HSBC has downgraded Pfizer's stock rating to 'Hold' from 'Buy' and reduced the price target to $28, citing diminished confidence in the company's short-term growth prospects. This decision follows a 40% probability adjustment for the market introduction of sigvotatug vedotin after a Phase 3 trial failure in non-small cell lung cancer. Additionally, HSBC increased the beta coefficient to 0.85 from 0.78, indicating higher expected volatility.
Key points
- HSBC downgrades Pfizer's stock rating to 'Hold' and lowers price target to $28.
- Reduced confidence in sigvotatug vedotin's market introduction after Phase 3 trial failure.
- Beta coefficient raised to 0.85, suggesting increased stock volatility.
Sources
AI-generated from public news sources. Not financial advice.
