The worst correction in a decade has left lots of blue-chips trading at attractive prices.
Bristol-Myers Squibb has been pummelled especially hard due to negative pharma sentiment plus now worries over its upcoming $90 billion Celgene acquisition.
While there are plenty of risks facing Bristol (and all drug makers), the deal makes great strategic sense and the company's track record on M&A is strong.
Today Bristol represents a Grade A pharma blue-chip that's at least 25% undervalued, creating a great long-term buying opportunity.
From today's prices, Bristol should be able to deliver about 17% to 20% long-term total returns, making it one of the best dividend growth stocks you can buy.
There's nothing like the worst correction in a decade to put great dividend growth stocks on sale. That's especially true when industry/company specific news combines to create a perfect storm of negativity