Pfizer (PFE) just laid out a 2026 outlook that underwhelmed the market, with lower expected earnings and revenue as COVID-19 sales fade and key drugs lose exclusivity, putting near term growth firmly under the microscope.

See our latest analysis for Pfizer.

Even with today’s dip on the 2026 guidance, Pfizer’s 90 day share price return of 10.59% suggests sentiment has been quietly improving, while the 1 year total shareholder return of 12.25% hints that long term confidence is slowly rebuilding.

If Pfizer’s mixed outlook has you reassessing your healthcare exposure, this could be a good moment to explore other healthcare stocks that might offer a different balance of growth and stability.

With shares still trading at a hefty intrinsic discount and analysts only penciling in modest upside, the key question now is whether Pfizer is a classic value opportunity or if the market has already priced in a muted recovery.

Most Popular Narrative Narrative: 9.1% Undervalued

With Pfizer closing at $26.43 versus a narrative fair value near $29, the most followed storyline still sees upside from today’s reset expectations.

Sustained shift of the portfolio toward high value biologics, innovative vaccines, and personalized therapies (including next generation mRNA platforms and first in class immunotherapies) enables pricing power and supports premium net margins, even as competitive and regulatory pressures increase for low margin legacy drugs.

Read the complete narrative.

Curious how shrinking top line forecasts can still support a higher value? The secret lies in fatter margins, disciplined share assumptions, and a surprisingly rich future multiple.

Result: Fair Value of $29.08 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent regulatory pressure on U.S. drug pricing and looming patent expirations on key oncology brands could easily derail this undervalued thesis.

Find out about the key risks to this Pfizer narrative.

Build Your Own Pfizer Narrative

If you see the story differently or want to stress test the numbers yourself, you can build a custom Pfizer view in just minutes: Do it your way.

A great starting point for your Pfizer research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.

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