The pandemic was Pfizer’s moment of glory. Still, the pharmaceutical company lost all of its COVID gains and is below its 2020 low, which is wealth destruction after receiving the considerable boost. Arguably, the US pharma space is already “too hated” and could bounce back on any glimmers of good news. Pfizer is producing promising drugs and worries about the PFE due to vaccine sceptic Robert F. Kennedy Jr. might already be largely priced into the company with the shares have already been walloped.
- We have no trigger/reason to buy PFE, but it’s very cheap compared to the historical average valuation.
MM is neutral towards Pfizer
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