Pfizer Stock's (NYSE:PFE) Future: Not as Bleak as You'd Think ... - TipRanks
Pfizer, Inc. ( NYSE:PFE ), one of the largest pharmaceutical companies in the world, has come under pressure this year, resulting in the company losing 28% of its market value. Although the company is facing challenges, its future is not as bleak as many investors fear. As evident from Pfizer's second-quarter earnings, the company is suffering from a notable decline in revenue resulting from the shrinking demand for its COVID vaccines and treatments. Still, although short-term challenges will persist, Pfizer seems attractively valued considering its long-term prospects. I am bullish on Pfizer, as I believe the company will return to growth in the foreseeable future. Pfizer's Short-Term Challenges Pfizer's short-term challenges stem from the lackluster performance of Comirnaty, the COVID vaccine developed in partnership with BioNTech SE ( NASDAQ:BNTX ), and Paxlovid, a prescription medication used to treat moderate COVID-19 symptoms. I...