Introduction
PFE stock is the stock of Pfizer Inc., one of the largest pharmaceutical companies in the world. The company was founded in 1849 and is headquartered in New York City. It is a leader in the development and manufacture of drugs to treat a wide range of illnesses and diseases. As a result, Pfizer’s stock has been a popular stock for many investors for many years. With the recent pandemic, the stock has become even more popular as investors are looking for stocks that can benefit from the new developments and treatments for Covid-19.
PFE Stock Performance in 2020
2020 has been a year of great performance for PFE stock. In the first quarter of 2020, the stock rose 13.7%, followed by a 6.1% increase in the second quarter. In the third quarter, the stock rose 8.7% and then posted a gain of 10.2% in the fourth quarter. Overall, the stock gained 28.7% in 2020, outperforming the S&P 500 which gained 16.3%.
PFE Stock Outlook for 2021
Analysts have a positive outlook for PFE stock in 2021. Analysts expect that the company will continue to benefit from the new developments and treatments for Covid-19. In addition, analysts believe that the company’s strong fundamentals, including its diversified product portfolio and expanding global presence, will continue to support its growth. As a result, analysts have given a target price of $45 per share for 2021.
PFE Stock Long Term Forecast
Looking ahead to 2023 and beyond, analysts have a positive outlook for PFE stock. As the company continues to benefit from the new developments and treatments for Covid-19, analysts expect the stock to remain strong and continue to outperform the market. Additionally, analysts believe that the company’s strong fundamentals will continue to support its growth, driving the stock prices higher. As a result, analysts have given a target price of $55 per share for 2023.
Risks to Consider
Despite the positive outlook for PFE stock, investors should also be aware of the risks associated with investing in the stock. The first risk is the potential for regulatory or legal issues. As a pharmaceutical company, Pfizer is subject to stringent regulations and legal restrictions. Additionally, the company is exposed to the risk of patent and regulatory challenges, which could impact its ability to develop and market drugs. Lastly, the stock is subject to market volatility and could experience significant losses in the event of a market downturn.
Conclusion
PFE stock is a popular stock for many investors and has performed exceptionally well in 2020. Analysts have a positive outlook for the stock in 2021 and 2023, with a target price of $45 and $55 per share, respectively. However, investors should be aware of the risks associated with investing in the stock, including regulatory, legal, patent, and market risks. Despite these risks, PFE stock remains a strong investment for many investors.
