Courtney Breen, an analyst from Bernstein, maintained the Hold rating on Bristol-Myers Squibb. The associated price target remains the same with $58.00.
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Courtney Breen’s rating is based on a combination of factors that reflect both positive and cautious elements in Bristol-Myers Squibb’s recent performance and future prospects. The company reported a strong third-quarter earnings result, surpassing expectations in both revenue and earnings per share, which was driven by a robust growth portfolio. Despite this positive outcome, the market’s reaction was tempered by existing concerns regarding the ADEPT-2 trial and its potential impact on the stock’s future movement.
While the company’s guidance for fiscal year 2025 was raised, indicating confidence in its growth trajectory, the uncertainty surrounding the ADEPT-2 trial remains a significant factor. The management’s change in language regarding Cobenfy’s market performance and the focus on physician education to drive uptake highlights the challenges ahead. Therefore, the Hold rating reflects a balanced view, acknowledging the company’s current achievements while remaining cautious about unresolved risks that could influence future stock performance.
Breen covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Amgen, and Gilead Sciences. According to TipRanks, Breen has an average return of 7.2% and a 75.76% success rate on recommended stocks.
In another report released today, Bank of America Securities also reiterated a Hold rating on the stock with a $52.00 price target.