Pfizer (PFE) Stock Forecast & Price Target

Pfizer is supported by a large, diversified business that generates roughly $60 billion in annual sales, with prescription drugs and vaccines now making up most revenue and international markets contributing 40% of total sales. Its outlook is strengthened by durable commercial execution, better-than-expected Eliquis performance, and a pipeline that management expects will support a return to growth by the end of the decade. Despite near-term pressure from patent expirations over the next 2 years and softer COVID sales, the shares appear undervalued at about 9.3x the new 2027 EPS estimate of $2.81 and offer a 6.6% dividend yield, while upcoming Phase 1/2a and Phase 3 data could improve sentiment.

Pfizer is facing a negative setup because several of its largest revenue drivers are under pressure, especially Prevnar sales in 3Q26 from declining vaccination rates, lower birth rates, and U.S. vaccine policy, while 2026 guidance already embeds about $1.1 billion of negative revenue impact from loss of exclusivity. The company also faces intensifying competition from higher-rebate, lower-price, or more effective alternatives, along with generic and biosimilar pressure in markets such as China, which can translate into price cuts and volume erosion. Beyond commercial headwinds, execution risks around Padcev, Comirnaty, and Paxlovid, plus potential clinical or regulatory setbacks and macro concerns like drug-pricing reform or tariff changes, weaken the fundamental outlook.