Even very well-run companies will eventually fall upon hard times. That's the backstory you need to keep in mind when you examine Bristol Myers Squibb ( BMY +2.69% ) and Pfizer ( PFE +0.29% ) . Here's why contrarians and turnaround lovers will likely find Pfizer the better turnaround play.

Comparisons are important

Benjamin Graham is often considered the father of fundamental analysis . A key tool he used was comparing competing investments. Simply put, the best way to get a feel for a company is to look at it relative to another company.

For example, how would you know that Eli Lilly 's price-to-earnings (P/E) ratio of nearly 50 was high if you didn't have something to compare it to? The S&P 500 index's P/E is around 29. Bristol Myers Squibb's P/E is a touch ov

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