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Research Alert: CFRA Retains Buy Opinion On Shares Of Pfizer Inc

05/11/2021 11:28

03:25 PM EDT, 05/11/2021 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

In line with our expectations, PFE-BioNtech rapidly received the emergency use authorization (EUA) for its mRNA-based Covid-19 vaccine for adolescents 12 to 15 years of age in the U.S. based on solid efficacy results. Considering that there are roughly 17M children in this age group in the U.S., this means an additional 5.2% of the population is now eligible to get vaccinated against Covid-19. We think this extension of the vaccine eligibility expands PFE's market opportunity in the U.S. PFE's Covid-19 vaccine is currently the only one covering the population 12-17 years of age, as competitors Moderna and JNJ vaccines have EUAs for people aged 18 and older. We expect EUAs for PFE-BioNtech's vaccine from other developed countries for children aged 12-15 years to take place soon. We maintain our price target at $45, 12.7x our 2022 EPS estimate, in line with PFE's 10-year historical forward P/E average. We lift our '21 EPS by $0.10 to $3.92 and our 2022 EPS estimate by $0.05 to $3.55.