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CICC Initiates Coverage of Pfizer Inc. (PFE) With an Outperform Rating
CICC has initiated coverage of Pfizer Inc. (PFE) with an Outperform rating and a $33 price target. This follows Pfizer’s announcement of positive topline results from its Phase 3 VALOR clinical trial for an investigational Lyme disease vaccine, showing over 70% efficacy with no safety concerns. The company plans to submit regulatory applications for the vaccine, highlighting its potential in an area with no currently available vaccines.