PFE - 2 Beaten-Down Stocks to Buy and Hold for 10 Years
2024-05-10 09:45:00 ET
It's easy to find stocks that are lagging broader equities, even in a bull market like the one we're currently in. It's harder to find beaten-down stocks that still look worth buying and holding onto for a while. Some corporations are condemned to deliver subpar financial results and stock market performances practically in perpetuity.
Thankfully, Bristol Myers Squibb (NYSE: BMY) and Pfizer (NYSE: PFE) , two drugmakers that are failing to keep pace with broader equities, arguably don't belong to that group. Though these corporations have recently faced issues, there remain excellent reasons to invest in them for the long haul. Let's dig in deeper to see why.
In the first quarter, Bristol Myers' revenue of $11.9 billion increased by 5% year over year. That's a decent, though not particularly impressive, performance for a pharmaceutical giant . However, it's worth pointing out that the company's year-over-year top-line growth was in the red for several quarters.
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2 Beaten-Down Stocks to Buy and Hold for 10 Years