Jim Cramer: Avoid UnitedHealth Stock Ahead of the Election
Jim Cramer weighed in on a stock to avoid ahead of the election.
This followed his stock to watch ahead of the election, which was Bristol-Meyers Squibb.
Why does he like Bristol-Myers so much? Well he and his team at Action Alerts PLUS wrote, "We view Bristol-Meyers Squibb's strength in cancer, cardiovascular and autoimmune disease treatments, key areas of focus that provide strong growth opportunities as they are always in need of further innovation...the big, 'control your own destiny move' the company made was the Celgene deal. From a financial perspective, the deal is expected to achieve greater than 40% accretion in the first full year with roughly $800 million in synergies in 2020, 2021, and 2022. The deal was necessary because positions Bristol-Myers for the back half of the decade through the creation of a more robust pipeline"
UnitedHealth, on the other hand, is a stock to avoid ahead of the election.
He noted that UNH is a "fabulous company" but that they're going to be a "target."
President Donald Trump and Democratic nominee former Vice President Joe Biden will go head-to-head in the first presidential debate on Tuesday, Sept. 29.
Watch the video above to see what has Cramer tentative about UNH despite loving the company.
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