Bristol Myers Squibb: Pain First, Payoff Later?

Bristol Myers Squibb remains a Strong Buy, supported by steady performance and undervaluation despite recent underperformance versus the benchmark. BMY boasts a 4.43% forward dividend yield, over 2.7x the sector median, with 36 years of uninterrupted payments and 18 years of consecutive growth. Recent double-beat earnings and consistent estimate beats since 2024 reinforce positive sentiment and justify a premium valuation. Legacy drug headwinds persist, but current pricing likely reflects these risks; analysts' $63 price target implies 11% upside.

I have been bullish on Bristol Myers Squibb (BMY) for a while now. And while it has surged 24% since my initial coverage back in September.