Analyst says Pfizer set for 45% upside after strong vaccine trial results

Pedestrians wearing protective masks walk past Pfizer Inc. headquarters on July 22, 2020 in New York City. Pfizer and German biotechnology firm BioNTech have agreed to supply the U.S. government with 100 million doses of coronavirus vaccine under a $1.95 billion deal.
Jeenah Moon | | Getty Images

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With Wall Street buzzing about Pfizer and BioNTech's potential coronavirus vaccine, some analysts are telling clients the drugmakers could be due for meaningful upside in the months ahead.

Cantor Fitzgerald analyst Louise Chen wrote that she sees Pfizer's stock climbing to $53 per share, 45% above where it closed on Friday and 32% above where it traded Monday. She has an overweight rating on the shares.