Pharmaceuticals are priced at a bargain, said Mike Burnick, Weiss Capital Management director of research.
“They were out of favor over the last three or four years, even before the current market slowdown, which has made them even cheaper,” he said.
Burnick recommends GlaxoSmithKline — which beat earnings estimates Wednesday — Novartis and Johnson & Johnson .
“It’s [Johnson & Johnson] considered the Rolls-Royce of the industry,” he said. “That’s the bluest of the blue chips.”