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.”
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…