UPDATE: Jefferies Raises PT to $41 on Bristol-Myers Squibb on Long-Term Growth Prospects
Jefferies maintained Bristol-Myers Squibb (NYSE: BMY) with a Buy rating and raisd the price target from $39.00 to $41.00.
Jefferies said, "2013 will likely deliver several major catalysts that will shape the direction of Bristol-Myers' mid to long term growth. We believe that Eliquis will beat launch expectations providing meaningful earnings momentum, whilst several major R&D catalysts (anti-PD1 and Yervoy) further expand the PE multiple. We reiterate our Buy rating and have increased our PT to $41 (from $39)."
Bristol-Myers Squibb closed at $36.93 on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.