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Pfizer (NYSE:PFE) surged about 3% on Tuesday morning after the drugmaker posted first-quarter results that beat Wall Street's forecasts, driven by aggressive expense reductions.
Adjusted earnings per share came in at $0.92, well above the $0.67 FactSet consensus. Revenue for the quarter reached $13.7 billion, just under the $13.9 billion analysts had predicted.
The company has trimmed an additional $1.2 billion in costs this year and is on track to cut $4.5 billion by year-end as it seeks to streamline operations while hunting for its next major drug candidate.
Management reaffirmed its full-year 2025 outlook, noting that the forecast does not currently include any potential impact related to future tariffs and trade policy changes, which we are unable to predict at this time.
CFO David Denton indicated prepared remarks suggest Pfizer is currently trending toward the upper end of its profit guidance range, excluding any trade-related effects.
Is Pzifer Stock a Buy Now?
Based on the one year price targets offered by 19 analysts, the average target price for Pfizer is $28.71 with a high estimate of $41.43 and a low estimate of $22.00. The average target implies an upside of 21.18% from the current price of $23.69.
Based on GuruFocus estimates, the estimated GF Value for Pfizer Inc in one year is $28.58, suggesting an upside of 20.64% from the current price of $23.69.
This article first appeared on GuruFocus.