Pfizer Stock Needs A ‘Covid Reset,’ According To One Analyst; Shares Dive

Pfizer stock fell Tuesday after a Wells Fargo analyst downgraded shares and said the drug giant needs a “Covid reset.”




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Wells Fargo analyst Mohit Bansal downgraded Pfizer (PFE) shares to an equal weight rating from overweight during the Monday holiday. Early Tuesday, Pfizer stock slipped 2.2% near 46.80. Bansal also trimmed his price target to 50 from 54.

“We think Pfizer needs a Covid reset before the stock could work again,” he said in a note to clients. He applauded the company’s…

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