Top Stock Picks '09: Bristol-Myers (BMY)

Filed under: Newsletters, Bristol-Myers Squibb (BMY), Stocks to Buy, Best Stocks for 2009

This post is part of a special annual report -- Top Stock Picks '09 -- in which TheStockAdvisors.com asked 75 leading newsletter advisors to select their favorite investment for the new year.

"My selection for 2009 is Bristol-Myers Squibb (NYSE: BMY)," says Chuck Carlson, the leading advisor in the area of dividend reinvestment plans.

In his The DRIP Investor, he explains, "This pharmaceutical company has a lot to offer investors, including a high yield, a rising profit stream, and a speculative kicker in the way of takeover appeal." Here's his review.

"Bristol-Myers Squibb has a number of popular brands, including Plavix, the company's leading cardiovascular product; HIV treatments Reyataz and Sustiva; and oncology product Erbitux. Its stable of products has helped drive decent sales growth.

"Bristol-Myers Squibb has done a nice job of ���rming up its balance sheet. The company's cash coffers were boosted by the sale of its ConvaTec medical-device and wound-care business for $4.1 billion.

"At the end of the third quarter, the ���rm had more than $7 billion in cash and securities, a 'signi���cant majority' of which was invested in Treasury Bills and Treasury-backed securities.

Continue reading Top Stock Picks '09: Bristol-Myers (BMY)

Top Stock Picks '09: Bristol-Myers (BMY) originally appeared on BloggingStocks on Mon, 05 Jan 2009 17:30:00 EST. Please see our terms for use of feeds.

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