It was just last week that BMO Capital initiated an “outperform” rating for pharmaceutical giant Pfizer, signalling that the company could outdo many competitors next year.Pfizer’s vaccine business is the obvious draw here, with COVID-generated revenue likely to continue rolling in over the next year. But the company’s solid financials and pipeline of new products should help it maintain the momentum it has built this year.
Palo Alto Networks is projecting revenue of around US$5.3 billion for 2022. That rosy outlook has helped lift the company’s share price by about 48 per cent since Aug. 23.Article contentSimilar to Palo Alto Networks, BMO had already identified Alphabet, Google’s parent company, as an “outperform” candidate prior to the release of its third-quarter earnings report. BMO then swiftly upped its target price for Alphabet from US$3,000 to US$3,200 per share.