Cantor Fitzgerald analyst Olivia Brayer lowered the firm’s price target on Bristol Myers to $52 from $55 and keeps a Neutral rating on the shares. The firm, which made slight adjustments to all of its large-cap biotechnology models ahead of Q1 earnings season for the group, lowered its target for Bristol given a more-modest growth ramp for new products. The “usual seasonal headwinds that typically make this one of the weaker quarters for the industry,” the analyst added in the preview note.
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