Аналитики HSBC снизили прогноз по акциям Pfizer из-за задержек клинических испытаний и смены руководства

Analysts Rajesh Kumar and Dylan Whitfield downgraded to Hold from Buy and lowered their target forecast to $28 from $32, citing increased uncertainty around key pipeline assets and recent executive leadership changes. The original bullish thesis centered on Pfizer’s increased R&D focus, a dividend yield of roughly 6%, and management’s goal of delivering high single-digit revenue growth between 2028 and 2032. However, HSBC analysts now believe those growth expectations are unlikely to be validated in the near term. Oncology Pipeline Delay Weighs On Growth Outlook A key factor behind the downgrade was a reduction in the probability of success for sigvotatug vedotin (SV) to 40% following its Phase 3 setback in non-small cell lung cancer (NSCLC). The analysts also raised the stock’s beta to 0.85 from 0.78, contributing to the lower price target. According to the note, Pfizer’s long-term growth outlook depends heavily on the success of SV, atirmociclib, a VEGF-bispecific oncology program, and, to a lesser extent, its obesity portfolio. However, analysts said meaningful catalysts for these programs are expected closer to 2027 rather than in the second half of 2026, leaving investors with few near-term events that could resolve the ongoing growth debate. In the meantime, analysts expect the effects of MFN pricing, IRA-related changes, and loss-of-exclusivity pressures to become increasingly visible. Management Changes Add Another Layer Of Uncertainty The report also highlighted recent executive leadership changes as another reason for caution. With a new chief financial officer and chief strategy officer joining the leadership team under the current CEO, analysts believe investors may wait for greater clarity on the company’s approach to capital allocation and dividend discipline. While analysts said Pfizer’s valuation appears attractive relative to its medium-term earnings potential, they cautioned that the stock could remain inexpensive unless the company delivers successful pipeline outcomes. They also warned that the NSCLC setback for sigvotatug vedotin increases uncertainty around future catalysts and could negatively affect investor perception of management’s capital allocation if impairments related to Seagen’s intangible assets emerge. PFE Stock Price Activity: Pfizer shares were down 2.06% at $23.82 at the time of publication on Monday, according to Benzinga Pro data. Photo: Molly Woodward / Shutterstock © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here.