PFE – Market expectations are for Uniform ROA to fade, but management is confident about demand levels, pharmaceuticals, and COVID treatment

June 1, 2022

  • Pfizer Inc. (PFE) currently trades below corporate and historical averages relative to Uniform earnings, with a 6.2x Uniform P/E (Fwd. V/E’).
  • At these levels, markets are pricing in expectations for Uniform ROA to fade to 12%, accompanied by 3% Uniform asset growth.

  • Meanwhile, analysts expect Uniform ROA to decline to 26% by 2023, accompanied by 11% Uniform asset growth.

  • If sustained going forward, these levels would imply a stock price closer to $162, representing significant potential equity upside for the firm.

  • Moreover, the firm’s most recent earnings call suggests management is confident about demand levels, pharmaceuticals, and COVID treatment.

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