2026май
PFE May 2026 · buy
Pfizer is navigating a complex transition defined by a massive post-COVID revenue cliff and impending Loss of Exclusivity (LOE) for several key blockbusters (e.g., Eliquis, Ibrance). While the stock offers an attractive 6.7% dividend yield, the payout is precariously covered by current Free Cash Flow. The thesis depends on Pfizer's ability to seamlessly integrate the Seagen acquisition, execute on its internal pipeline, and realize billions in cost savings to stabilize margins and defend the dividend.