Pfizer: Adjusted EPS Masks How Bad 2026 Really Looks (Archive)

This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.

Elevator Pitch

• Pfizer faces another year of revenue decline in 2026, as Covid and loss-of-exclusivity headwinds weigh on top line growth, despite management's guidance and cost-cutting efforts.
• Recurring unusual charges, averaging over 10 percent of revenue, risk offsetting Pfizer's planned 5.7 billion dollars of net savings, making true unadjusted EPS meaningfully weaker than guided adjusted EPS.
• Growing vaccine skepticism, shifting U.S. childhood vaccine policy, and ongoing Covid-19 safety probes threaten volumes and litigation risk for key vaccines, like Prevnar and Abrysvo.
• Despite trading at about an 8.5x 1-yr fwd PE at a historically deep discount to peers, flat to deteriorating earnings expectations limit the case for a valuation-driven bullish stance.
• Pfizer's relative chart vs. the S&P 500 has rejected resistance, with bearish weekly signals, suggesting continued underperformance until lower technical support levels are reached.

Read the full article here.