UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Bristol Myers Squibb Co.
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Bristol Myers Squibb Co. (NYSE: BMY), and slightly raised its price target from $38.00 to $39.00.
Jefferies & Company noted, “We see Pharmaceuticals as remaining attractive in 2013, but unlikely to return the same level of relative performance as in 2012. Our Top Pick in the US is AbbVie, with Novartis being our most preferred name in Europe. Sanofi, Roche, Pfizer and Bristol-Myers remain high conviction Buy ratings. We continue to point to Eli Lilly and GlaxoSmithKline as our least preferred names.”
Bristol Myers Squibb Co. closed on Tuesday at $34.22.
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