BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Systematix Research Report
We initiate coverage on Pfizer Ltd. with a 'Buy' rating and a target price of Rs 4,954, based on 30 times FY25E earnings per share.
This is an opportune time to invest in Pfizer, considering the-
fresh wave of new chemical entity launches expected in India from the parent pipeline,
strength of its core brands, and
correction in valuations, post recent growth challenges.
Our estimate of 12.3% compound annual growth rate in earnings over FY23 to FY25E would be led by a mix of revenue growth (mid-single digit) and cost rationalisation (recently implemented VRS scheme).
Revenue growth is likely to be subdued (mid single digit) in the near term, but once the parent entity rolls out its late-stage NCE pipeline in India, growth trajectory could surprise on the upside.
Key NCE launches we expect are Prevenar 20 – a pneumococcal vaccine that offers broader protection than the ones in the market currently, Aztreonam-avibactam (PF06947387) – a novel antibiotic that works against drug-resistant bacteria, and Etrasimod, meant to cure moderate to severe ulcerative colitis.
Given the company's strong cash position, we expect a potential special dividend payout in the near future.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
