5 Reasons Why Buying This 6%-Yielding Dividend Stock Could Be a Brilliant Move
(NYSE: PFE) has seen its better days. Shares of the big drugmaker have plunged more than 50% from the highs set in late 2021. The pharma stock is down more than 30% over the last 12 months. Sales and profits have fallen sharply.
Should investors avoid the beaten-down stock like the plague? I don't think so. Here are five reasons why buying this 6%-yielding dividend stock could be a brilliant move.
Most of Pfizer's recent woes can be blamed on declining demand for its COVID-19 products. Sales for COVID-19 vaccine Comirnaty and oral antiviral medication Paxlovid have plummeted. However, I predict that 2024 will be a trough year for the company's COVID-19 sales.
Source Fool.com