Pfizer (PFE) stock has been among the under-performers in the last 12 months. Even with the positive tailwinds related to the vaccine against COVID-19, the stock has trended higher by just 12% during this period. Considering several business catalysts and forward valuation, it seems that PFE stock is undervalued. While the broad markets trade near all-time highs, Pfizer stock trades at an attractive forward price-to-earnings-ratio of 11.0. (See Pfizer stock charts on TipRanks) In the foreseeable future, the company’s vaccine against COVID-19 is likely to be the revenue and cash flow driver.