Pfizer and Merck are moving higher amid growing demand for safe haven resources, which is bullish for leading healthcare stocks.
Both companies are trading at attractive valuation stages.
Analysts’ estimates for Mark have recently risen and pushed the stock to an all-time high.
Investors continue to look for potential safe haven assets as the S&P 500 trades near the annual low. In this environment, healthcare stocks may receive additional support. In fact, some healthcare stocks, such as Pfizer, have recently gained momentum.
Pfizer stock has recently stabilized above the 50 level and has developed strong upward momentum. The company is expected to report earnings of $ 6.79 per share this year and $ 5.33 per share next year, so the stock is trading at 10 forward P / E.
Earnings estimates have been running low in recent weeks, which is generally bearish for the stock. However, Pfizer’s attractive valuation and growing demand for safe haven assets have served as positive catalysts for the company’s stock. If demand for safe-haven assets remains strong, Pfizer’s stock will likely be even higher.
Mark is another example of a healthcare stock that is rising due to attractive valuations and growing demand for safe shelter resources.
At the end of April, the company released its quarterly report, which acted as a bullish catalyst for the stock. Merck reported earnings of $ 15.9 billion and adjusted to $ 2.14 per share, easily beating analysts’ estimates in both earnings and revenue.
Currently, the stock is trading at around 13 forwards P / E. It should be noted that analysts’ estimates have been rising in recent weeks, which has provided additional support to Merck stocks. Shares of the company have recently hit all-time highs and there seems to be a good chance that Mark Stock’s current trend will continue.
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This article was originally posted on FX Empire