BMO Downgrades Pfizer to Market Perform

In a report released Monday, BMO analyst Alex Arfaei downgrades Pfizer Inc.

from Outperform to Market Perform while reducing its price target from $34 to $31 a share. Analyst at BMO state Pfizer has a “limited growth prospects”. Pfizer's new drug releases do not outweigh its mature franchises declining heavily dividend and backpacks create some short term support but not enough for growth maintenance. BMO forecast Pfizer's revenue to be relatively flight to someone potential down side until 2023.