5 Best Stocks to Buy Before US Election Season 2024

3. Pfizer Inc (NYSE:PFE)

Number of Hedge Fund Investors: 79

Pfizer Inc (NYSE:PFE) could be one of the best stocks to buy before US election 2024. Long-term investors believe the healthcare sector is undervalued as historically healthcare sectors have underperformed during election years but tend to grow later. A Reuters report in January said that the healthcare sector traded 17.9 times forward earnings estimates versus a P/E ratio of 19.7 for the S&P 500. The report quoted Art Hogan, chief market strategist at B. Riley Wealth, who said:

“Investors are starting to look out for those sectors that didn’t work in 2023, and healthcare fits that bill.”

The analyst has an Overweight rating on the healthcare sector.

Earlier in February, Jefferies named a few stocks it believes could gain amid the rise of weight loss drugs. Pfizer Inc (NYSE:PFE) was part of the list.

Over a decade of consistent dividend increases also make Pfizer Inc (NYSE:PFE) an attractive income stock to buy and hold.

Smead Value Fund made the following comment about Pfizer Inc. (NYSE:PFE) in its Q3 2023 investor letter:

“Through the first nine months of the year, we had a gain of 2.10%. The S&P 500 had a gain of 13.07% and the Russell 1000 Value had a gain of 1.79%. The stock market realized markedly higher riskless US Treasury interest rates had their effect on the stock market as it began to reassert what Warren Buffett calls the “gravitational pull” on price-to-earnings ratios (P/E).

On the downside, Target (TGT), Bank of America (BAC) and Pfizer Inc. (NYSE:PFE) detracted the most in the first nine months of the year. Pfizer (PFE) is suffering from a fall-off in Covid-19 vaccinations and we are trying to figure out what to do with it as a small holding.”