Jim Cramer Broke Down 16 Stocks Including Pharma Plays for Rising Oil

7. Bristol-Myers Squibb Company (NYSE:BMY)

Jim Cramer reviewed Bristol-Myers Squibb Company (NYSE:BMY) while breaking down 16 stocks for a market facing higher energy costs and economic uncertainty. Cramer explained why the Charitable Trust owns the stock, as he remarked:

Finally, there’s Bristol-Myers. Okay, this is a stock I like so much that we own it for the Charitable Trust. It was on a massive run from November through February, but then this month, it’s just, it stalled. Still, Bristol-Myers is up a quiet 28% since the end of October. In recent weeks, it’s pulled back, but today it broke out above the 50-day moving average. I was surprised. It was a really nice run. Lang thinks this recent action here is merely a healthy correction. When you own something, you never feel it’s healthy.

When you look at the Chaikin Money Flow, wow, okay, it’s still pretty strong. Also, like Merck, the stock’s recent pullbacks have represented terrific buying opportunities. And Lang thinks that this time is no different. Doesn’t hurt that Bristol-Myers has a strong 4.3% yield… Right now, the stock’s at $58.94. Lang sees it making a run to anywhere from $66 to $70. Again, that doesn’t sound very impressive, but if Lang’s right, and we’re heading into a harsh slowdown, this is exactly the kind of stock that you want to own, something with a solid yield protection and the possibility of upside even in a difficult economy, which is why we own it.

Bristol-Myers Squibb Company (NYSE: BMY) develops and sells medicines for cancer, cardiovascular, immune, and neurological conditions. Its products include well-known drugs like Eliquis, Opdivo, and Orencia.