Edoardo Fusco Femiano, market analyst at multi-asset investment platform eToro, comments on Pfizer ’s Q1 earnings:
“The Pfizer Q1 earnings are above market expectations and its business outlook strongly improved. Pfizer ’s earnings release is one of the positive stories in the context of a weak session of global equity indexes. The company beat market expectations on both revenues and earnings but, clearly, the focus was on the additional steps in the distribution of the Covid-19 vaccine.
With the plan to file for full U.S. approval of the vaccine by the end of this month, Pfizer is on the right track to separate itself from other competitors. The increase of vaccine sales estimates for 2021, from $15 billion to $26 billion, shows an unexpressed business potential for the company over the long term. The stock is trading around historical valuation levels but the next phases of the global vaccination rollout could lead to additional revenues and earnings surprises over the coming months.”