Revenue Guidance Adjustment: Pfizer revised its 2025 revenue guidance to approximately $62 billion, up from a previous range of $61 to $64 billion, indicating confidence in future market performance despite challenges from declining COVID-19 product revenues.
2026 Revenue Outlook: The company anticipates 2026 revenues to range between $59.5 billion and $62.5 billion, reflecting an expected $1.5 billion decrease in COVID-19 product revenues and the negative impact of certain products losing exclusivity.
R&D and Sales Expenses: Pfizer expects adjusted selling, general, and administrative expenses for 2026 to be between $12.5 billion and $13.5 billion, with R&D expenses projected between $10.5 billion and $11.5 billion, highlighting ongoing investments in key therapeutic areas and progress in its cost realignment program.
Earnings Per Share Forecast: The adjusted diluted EPS for 2026 is projected to be between $2.80 and $3.00, primarily reflecting anticipated revenues and an expected increase in the effective tax rate, demonstrating the company's efforts to maintain profitability amidst changing market conditions.
PFE
$25.425+Infinity%1D
Analyst Views on PFE
Wall Street analysts forecast PFE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PFE is 29.08 USD with a low forecast of 24.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
Wall Street analysts forecast PFE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PFE is 29.08 USD with a low forecast of 24.00 USD and a high forecast of 34.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Buy
10 Hold
1 Sell
Hold
Current: 26.430
Low
24.00
Averages
29.08
High
34.00
Current: 26.430
Low
24.00
Averages
29.08
High
34.00
BofA
Jason Gerberry
Neutral
downgrade
$29 -> $28
2025-12-15
New
Reason
BofA
Jason Gerberry
Price Target
$29 -> $28
2025-12-15
New
downgrade
Neutral
Reason
BofA analyst Jason Gerberry lowered the firm's price target on Pfizer to $28 from $29 and keeps a Neutral rating on the shares. The firm, which struggles to see a rerating catalyst as the company works through its multi-year loss of exclusivity period, is shifting its valuation basis to its FY27 EPS estimate.
Morgan Stanley
Equal Weight
downgrade
$32 -> $28
2025-12-12
New
Reason
Morgan Stanley
Price Target
$32 -> $28
2025-12-12
New
downgrade
Equal Weight
Reason
Morgan Stanley lowered the firm's price target on Pfizer to $28 from $32 and keeps an Equal Weight rating on the shares. The firm expects many of the policy overhangs that dominated the biopharma conversation this year to wane in 2026, bringing the focus back to fundamentals, the analyst tells investors in a 2026 outlook note for the group.
HSBC
Rajesh Kumar
Buy
maintain
$28 -> $29
2025-12-10
Reason
HSBC
Rajesh Kumar
Price Target
$28 -> $29
2025-12-10
maintain
Buy
Reason
HSBC analyst Rajesh Kumar raised the firm's price target on Pfizer to $29 from $28 and keeps a Buy rating on the shares as part of a 2026 outlook for the pharma group. The firm believes the sector is well positioned to outperform in 2026, "even more so if AI panic kicks in." HSBC's preferred stocks are "growth bucket ideas," but says "fallen angels and value could work as well."
Guggenheim
Buy
maintain
$33 -> $35
2025-11-24
Reason
Guggenheim
Price Target
$33 -> $35
2025-11-24
maintain
Buy
Reason
Guggenheim raised the firm's price target on Pfizer to $35 from $33 and keeps a Buy rating on the shares. Pfizer's acquisition of Metsera is "a wise strategic move" to gain traction in the rapidly growing obesity market following recent setbacks with the company's internal oral GLP-1 programs, the analyst tells investors.
About PFE
Pfizer Inc. is a research-based, global biopharmaceutical company. The Company is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. Its Biopharma segment includes the Pfizer U.S. Commercial Division, and the Pfizer International Commercial Division. Its product categories include oncology, primary care and specialty care. Its oncology products include Ibrance, Xtandi, Padcev, Adcetris, Inlyta, Lorbrena, Bosulif, Tukysa, Braftovi, Mektovi, Orgovyx, Elrexfio, Tivdak and Talzenna. Its primary care products include Eliquis, Nurtec ODT/Vydura, Zavzpret, the Prevnar family, Comirnaty, Abrysvo, FSME/IMMUN-TicoVac, Nimenrix, Trumenba, and Paxlovid. Its specialty care products include Xeljanz, Enbrel (outside the United States and Canada), Inflectra, Abrilada, Cibinqo, Litfulo, Eucrisa, Velsipity, the Vyndaqel family, Genotropin, BeneFIX, Xyntha, Somavert, Ngenla, Hympavzi, Sulperazon, Zavicefta, Octagam and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
