This mega drug company is forecasted to grow at an annual rate of 14% over the next five years. In the past 30 days, four analysts have increased their EPS estimates for BMY. The company has a current annual dividend of 2.81%, paid quarterly.
Bristol-Myers Squibb Company (BMY)
From Nate’s Notes
Though I had hoped we would get more of a pullback as part of the round of profit-taking that was already long overdue in Bristol-Myers Squibb Company’s (BMY) stock as last month’s issue went to press, as you can see in the chart, after taking a very brief pause to catch its breath
between the December issue and today, the stock is already making another push into new 52-week high territory.
And, as you know, I believe such price action can never be characterized as anything but a bullish clue about the current direction of the overall market).
In response to this almost immediate resumption of the uptrend, I am raising the buy limits and adding a few more shares in both Portfolios this month. BMY is a strong buy under $58 and a buy under $68.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, January 10, 2020