Scotiabank Raises Price Target for Pfizer (NYSE: PFE) Stock

• Pfizer Price Target Increase: Scotiabank (NYSE: BNS) has raised its price target for Pfizer (NYSE: PFE) to $33.00, indicating a potential upside of 20.9% from its current trading price.
• Analyst Sentiment: Pfizer holds a strong Zacks Rank of #2 (Buy), suggesting an improving earnings outlook compared to Johnson & Johnson (NYSE: JNJ)'s #3 (Hold) ranking.
• Market Valuation: Pfizer's market capitalization is approximately $155.6 billion, with its stock trading within a 52-week range of $23.62 to $29.21.

Pfizer (NYSE: PFE), a prominent drug and vaccine maker, competes with companies such as Johnson & Johnson (NYSE: JNJ). Scotiabank (NYSE: BNS) raises its price target for Pfizer to $33.00 from $30.00. At the time of publication, Pfizer trades at $27.31, putting the new target about 20.9% above the share price.

A price target is an analyst’s estimate of where a stock could trade. Scotiabank’s increase is $3.00 per share, but the $33.00 target is not a guarantee. Pfizer is down $0.11, or 0.38%, at the reported price of $27.31.

As highlighted by Zacks, Pfizer has a Zacks Rank of #2 (Buy), compared with #3 (Hold) for Johnson & Johnson. Those rankings suggest Pfizer’s earnings outlook may be improving more. The comparison does not establish which stock offers better value overall.

Pfizer trades between $27.20 and $27.71 during the day, while its range over the past year is $23.62 to $29.21. About 11.9 million shares trade, and Pfizer’s market capitalization is approximately $155.6 billion. Market capitalization is the total value of a company’s shares.