Societe Generale downgraded Bristol Myers to Hold from Buy with a $51 price target. Given the length of the pharmaceutical product cycle and “the sheer scale of the top-line challenge” that Bristol faces, the firm believes that investors need to be “extremely patient to enjoy the fruits of any potential re-rating,” the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BMY:
- Bristol Myers reports FDA approves Opdivo for first-line metastatic UC treatment
- Healthcare Stocks Retreat after New Task Force Is Formed
- 2seventy Bio: Abecma generated $56M U.S. commercial revenue in Q4
- Bristol Myers’ ozanimod shows efficacy and safety in multiple sclerosis trial
- Truist biotech analysts hold an analyst/industry conference call