Bristol-Myers Squibb, once a dividend darling, is currently experiencing a slump, having fallen over 42% from its November 2022 peak. Despite this decline, the stock now boasts a generous dividend yield of 5.3%. Investors are advised to consider this dip as an opportunity, especially with the company's upcoming earnings report, which might indicate better-than-expected performance given the low expectations. The biopharmaceutical firm is also pursuing significant cost savings and has a promising therapeutic pipeline that could enhance its market position in the near future.
Bristol-Myers Squibb, down over 42% from its peak, is becoming an attractive buy due to its high dividend yield and potential for turnaround.
With an upcoming earnings report and a high dividend yield, Bristol-Myers Squibb presents a compelling risk/reward scenario for long-term investors.
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