Contrary call on Bristol-Myers (BMY)

Filed under: Earnings reports, Newsletters, Bristol-Myers Squibb (BMY), Stocks to Buy

"Wall Street has been nonplussed about results from Bristol-Myers Squibb (NYSE: BMY); in my view, the Street is wrong," says Karim Rahemtulla in Xcelerated Profits Report.

"The stock has not joined many of its colleagues on the upside recently, but you can take Wall Street's lackluster opinion with a grain of salt. Yes, BMY's revenue of $5.02 billion fell a bit shy of projections for $5.13 billion, mostly due to a strong dollar negatively impacting sales.

"But sales grew 2.5% over the same period a year ago and earnings of 48 cents per share beat estimates by a penny. And with sales of Plavix rising 10% and demand for anti-depressant Abilify jumping 30%, it's hardly bad news.

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Contrary call on Bristol-Myers (BMY) originally appeared on BloggingStocks on Thu, 07 May 2009 11:45:00 EST. Please see our terms for use of feeds.

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