Bristol-Myers Squibb upgraded to Overweight with a $55 (17% upside) price target at Barclays. Shares up 1% premarket.
Post earnings BMY has had some nice price action, investors liked what the heard from the earnings report and the analysts have started to upgrade the stock as of today. Sentiment in the Pharma sector has been horrendous for months, so maybe a turnaround is on the cards. The price has found a bottom and the indicators have also put a strong base in. We think this is a very safe long with a good RR opportunity.
Company Description
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics
Post earnings BMY has had some nice price action, investors liked what the heard from the earnings report and the analysts have started to upgrade the stock as of today. Sentiment in the Pharma sector has been horrendous for months, so maybe a turnaround is on the cards. The price has found a bottom and the indicators have also put a strong base in. We think this is a very safe long with a good RR opportunity.
Company Description
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics