Pfizer Raises 2026 Revenue Guidance to $62 Billion Amid Strong Non-COVID Growth
Pfizer (PFE) raised its full-year revenue guidance for 2026, projecting between $60.5 billion and $62.5 billion after delivering a strong second-quarter performance with adjusted earnings per share of $0.77 that beat estimates. Non-COVID product sales grew by 18% operationally, driven largely by newly launched or acquired medicines such as Padcev from the Seagen and Metsera deals. The muted stock reaction highlights investor skepticism about whether this growth is sustainable beyond a single quarter. CEO Albert Bourla emphasized confidence in Pfizer's strategy during an earnings call but faces ongoing challenges including patent expirations later this decade. The company also expanded its cost-cutting initiatives, aiming for $6.7 billion in savings through 2029. Pfizer’s valuation model suggests a target price of $28 with limited upside potential over the next two years due to projected flat or declining revenue growth and conservative assumptions about operating margins.
Tickers: $PFE