Pfizer stock and Raytheon (RTX) lead this weekend’s watch list of five stocks near buy points. As Russia’s invasion of Ukraine and rising interest rates are making a tough period for investing, the list includes two stocks in defense contractor Raytheon and cybersecurity leader Fortinet (FTNT) that stand to benefit from the high-threat environment. Investment bank and asset manager Raymond James Financial (RJF) is set to cash in on higher short-term interest rates.
The other two stocks on this weekend’s list are two defensive health care plays, Pfizer (PFE) and Edwards Lifesciences (EW). Demand for their lifesaving medicines and technologies won’t fade if rapid Federal Reserve interest-rate hikes wallop the economy.
Pfizer stock is part of the IBD Big Cap 20 stock list, while Edwards Lifesciences is on the watch list for potential addition to the IBD Leaderboard portfolio of elite stocks. Raymond James is part of the SwingTrader portfolio designed to take advantage of short-term market shifts.
Pfizer is due for another big year, powered by sales of its Covid shot, Comirnaty, and antiviral treatment called Paxlovid. Together, Pfizer has said they should generate $54 billion $98-$102 billion in full-year sales. On April 5, Citi analyst Andrew Baum hiked his Pfizer stock price target to 57 from 46, saying a big order of Paxlovid from China could prove a catalyst.
Pfizer also is working to grow its future pipeline with deals such as this month’s announced $525 million buy of ReViral. The deal adds to Pfizer’s efforts targeting respiratory syncytial virus, which leads to lower respiratory tract infections.
Pfizer stock finished little changed at 53.12 on Thursday, continuing to hold support around its 21-day line. PFE stock is about 14% below a 61.81 buy point, just above its Dec. 20 high. However, Pfizer stock appears to be etching out a handle with a 56.42 buy point, 10 cents above its April 11 intraday high. That handle is already there on a weekly chart, but needs one more day on a daily chart.
Several other drug and biotech stocks have…