Merck & Co.
The only big pharma company that may need to be sold more is Merck & Co. (MRK). It’s in the same boat as BMY, except earnings aren’t even expected to recover next year — staying flat at $3.49 — and long-term growth is a mere 2%.
Yeah, I know you love the 3.8% yield, but the stock is overpriced by more than 3.8%. Again, even if I’m super generous and give an undeserving 9x estimate, the stock isn’t worth much more than $30, and trades at $48.