Could Vertex Pharmaceuticals Stock Help You Retire a Millionaire?
Even with government programs like Social Security, many people seek to save their own money for retirement, often setting the goal of reaching the $1 million mark by the time they reach retirement age. Turning to equity markets is still one of the best ways for most people to accumulate wealth over long periods, so retirement savers should strongly consider this option.
But, of course, stocks aren't all created equal. While some will deliver excellent returns and help investors accomplish their goals, others will be duds. Let's look at one biotech stock, Vertex Pharmaceuticals (NASDAQ: VRTX), and determine whether it falls in the first or the second category. Can this biotech giant help investors retire with $1 million or more?
The stock market isn't a tool for becoming rich overnight. So, let's assume an investor is 20 years away from retirement and is looking to turn an initial investment of $100,000 into $1,000,0000. That would require a compound annual growth rate of 12.2%. If that sounds easy to pull off, it isn't.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
With 58 Buy predictions and 2 Sell predictions Vertex Pharmaceuticals Inc. is one of the favorites of our community.
As a result the target price of 470 € shows a slightly positive potential of 4.22% compared to the current price of 450.95 € for Vertex Pharmaceuticals Inc..
