BMY Stock: $62 Target (Down From $70) By Morgan Stanley

By Amit Chowdhry ● May 2, 2021
  • The shares of Bristol-Myers Squibb Co (NYSE: BMY) have received a price target decrease from $70 to $62. These are the details.

The shares of Bristol-Myers Squibb Co (NYSE: BMY) have received a price target decrease from $70 to $62. And Morgan Stanley analyst David Risinger downgraded the rating of the shares from “overweight” to “equal weight.”

Risinger cited the company’s first-quarter 2021 results, which were below expectations. And Risinger noted that they are uninspired by the company’s pipeline. And Risinger’s team said that they have less conviction for the company to drive further upside in the stock — which offers a “balanced risk-reward profile.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.