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Before anything else, let me just say that pharmaceuticals stock Bristol-Myers Squibb Company (NYSE:BMY) is no longer quite the promising buy for 2024, as I had anticipated when I last wrote
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Bristol-Myers Squibb: Move Investing Time Horizon To 2025, At Least
Summary
- Bristol-Myers Squibb Company stock has taken a big tumble in the past quarter following its sharply reduced earnings guidance, but there are still plenty of positives going for it.
- Better than expected revenue growth in Q1 2024, earnings reduction being restricted to one year only and its recent cost reduction initiatives indicate better times from 2025 onwards.
- Its still elevated forward P/E indicates it's unlikely to see an uptick anytime this year, but it's still a good time to start buying the stock for next year.
Manika is a macroeconomist with over 20 years of experience in industries including investment management, stock broking, investment banking. She also runs the profile Long Term Tips [LTT], which focuses on the generational opportunity in the green economy. Her investing group, Green Growth Giants, takes the theme a step further from LTT with a deeper dive into opportunities presented by the segment.
Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in BMY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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