Pfizer Rejoice the Santa Rally
Pfizer (PFE) stocks are showing strong signs of recovery after a significant decline over the past three years. Prices dropped by 60.0% from $61.66 in December 2021 to $24.44 in mid-November 2024, reaching levels not seen since December 2012. Considering inflation, the company’s newly acquired patents, and its lineup of medications, the stock appears deeply undervalued.
Since hitting its November lows, PFE has rebounded by 9.0%, reaching $26.68. The stock has successfully broken through trend resistance and retested it, signaling potential for further gains. With the Santa rally underway and momentum likely to carry into January, PFE looks poised for additional upside.
Buying PFE at $26.00-27.00 offers an attractive opportunity. The target range is $31.00-32.00, representing a potential upside of 19.0-20.0%. A stop-loss at $23.00 is recommended to manage downside risk.
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