Q1 Return: +5%
Investor: Rick Pendergraft
Mylan (NASDAQ:MYL) was one of only two picks to not budge a spot from our last check-in, sitting nicely in sixth place with a quarter down.
As we said last time, the pharma company rode the uptrend of the broader markets as 2013 kicked off … but also rode its more recent downtrend. If a spring selloff comes, as many are expecting, things could get even uglier.
Still, investor Rick Pendergraft believes that the pharma company’s technicals and fundamentals — including a low forward P/E ratio and high institutional interest — make it a winner. Thanks to the stability in generic drugs and the pipeline for new products coming online in 2013, Pendergraft is convinced that the stock could climb to over $35 — a 30% gain.
Three months since he made that call, the stock has climbed 5%. Only 25% more to go.