Credit Suisse analyst Trung Huynh downgraded Pfizer to Neutral from Outperform with a price target of $40, down from $47. As Pfizer enters a “period of uncertainty and limited pipeline catalysts,” there is greater opportunity for growth among other U.S. major pharma stocks, the analyst tells investors in a research note. Following recent events, the firm decreased 2023 and 2030 revenue estimates by 1% and 4%, respectively. It cut its oral GLP-1 peak sales estimated to $1.5B from $6B following the decision to discontinue once-daily GLP-1 lotiglipron, and recent competitive data. Pfizer’s valuation is attractive but the company is entering a period of uncertainty with limited meaningful catalysts, says Credit Suisse.