HSBC downgrades Pfizer (PFE) to 'Hold' with $28 target amid pipeline concerns.
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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.
Kluczowe punkty
- 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.
Źródła
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