TD Cowen analyst Steve Scala raised the firm’s price target on Bristol Myers to $53 from $45 and keeps a Hold rating on the shares. The firm said they upodated their model and raised estimates in each year through 2030 but annual growth continues to appear variable with no real sustainable trend. Cowen’s 2030 EPS estimate is comparable to the reported number in 2023. But much upcoming news flow could form a foundation for longer-term recovery.
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