Wells Fargo analyst Mohit Bansal lowered the firm’s price target on Bristol Myers to $51 from $58 and keeps an Equal Weight rating on the shares. The firm notes 2024 guidance for low single-digit percentage topline growth was reassuring, though long-term growth remains a question. EPS guidance reflects OpEx efficiency initiatives to absorb deal impact, but could move down with updated guidance at Q1 EPS after deals close, Wells adds.
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