5 Best European Dividend Stocks to Buy Now

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1. GSK plc (NYSE:GSK)

Forward Dividend Yield: 7.57%

Number of Hedge Fund Holders: 34

GSK plc (NYSE:GSK) is a Brentford, UK-based diversified pharmaceutical company that has received major product approvals for COVID-19, endometrial cancer, and HIV. The company claims that two million vaccines are administered every day across the globe, and 40% of children worldwide have a GSK vaccine administered every year.

On September 29, Martial Descoutures at Oddo BHF upgraded GSK plc (NYSE:GSK) stock from a Neutral to an Outperform rating. The analyst assigned GSK plc (NYSE:GSK) a target price of 1,700 GBP, translating into a target price of $38.09 for the ADRs listed on the NYSE. Each ADR represents two ordinary shares listed on the LSE.

GSK plc (NYSE:GSK) is now focused on becoming a biotech giant as it spun off its consumer division Haleon earlier this year in July. The company is working on improving its pipeline and received approval for Benlysta from the FDA on July 24. The drug aims to treat lupus in children between the ages of five and seventeen. This was the first new drug approved to treat lupus in over five decades. Analysts think GSK plc (NYSE:GSK) is among the best European stocks to buy now as it offers decent upside potential. The stock has a twelve months trailing (TTM) PE ratio of 7.4x currently, significantly lower than the sector average of 17.9x.

You can also take a peek at the Top 10 Data Center Companies In the US and Top 10 ETFs for Beginners.

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