Pfizer Analysts Cut Their Forecasts Following Q3 Results

Pfizer Inc PFE reported a loss for the third quarter on Tuesday.

Pfizer reported a quarterly adjusted EPS loss of 17 cents versus a consensus loss of 32 cents, down from an EPS income of 67 cents in Q2 and $1.78 a year ago. The company reported a 42% slump in Q3 sales to $13.23 billion, down from $22.64 billion a year ago, beating the consensus of $12.72 billion.

Pfizer shares gained 0.2% to trade at $30.61 on Wednesday.

These analysts made changes to their price targets on Pfizer following earnings announcement.

• Morgan Stanley slashed the price target on Pfizer from $39 to $37. Morgan Stanley analyst Terence Flynn maintained an Equal-Weight rating.
• Barclays lowered the price target on Pfizer from $35 to $34. Barclays analyst Carter Gould maintained an Equal-Weight rating.

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