2 Stocks That Have Wall Street’s Stamp of Approval

Markets are significantly volatile ahead of the November jobs data release. However, despite widespread macro headwinds, the S&P 500 secured modest gains over the past month. Moreover…

according to Deutsche Bank AG (DB) strategist Binky Chadha, the stock market rally isn’t over yet.

In addition, Sam Stovall, chief investment strategist for CFRA Research, said, “Right now, the stock market is assuming we don’t fall into a recession or, if we do have a recession, it will be mild and that the Fed will likely lower interest rates in the latter part of 2023.”

Veteran investment strategist Ed Yardeni also believes that the U.S. economy is resilient enough to withstand any potential recession. According to him, markets could witness a year-end rally and surge another 8%.

Therefore, investors might now add quality stocks Pfizer Inc. (PFE) and AT&T Inc. (T) to their portfolios. Wall Street analysts expect these stocks to rally in the near term.

Pfizer Inc. (PFE)

Research-based biopharmaceutical company PFE is engaged in discovering, developing, manufacturing, marketing, distributing, and selling biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas.

On November 3, 2022, PFE’s investigational cancer immunotherapy, elranatamab, received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for treating people with relapsed or refractory multiple myeloma. This approval is yet another milestone achievement for PFE in oncology.

PFE’s trailing-12-month gross profit margin of 66.16% is 20.3% higher than the industry average of 54.99%, and its trailing-12-month net income margin of 29.81% compares to the industry average of negative 6.23%.


PFE’s U.S. revenues came in at $13.85 billion for the third quarter that ended October 2, 2022, up 97.3% year-over-year. Its non-GAAP net income came in at $10.17 billion, up 39.7% year-over-year, while its non-GAAP EPS came in at $1.78, up 40.2% year-over-year.

PFE’s revenue is expected to increase 23.4% year-over-year to $100.28 billion in 2022. Its EPS is expected to increase 46.4% year-over-year to $6.47 for the same period. It surpassed EPS estimates in all four trailing quarters.

Over the past month…

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