UPDATE: Jefferies Lowers PT on Bristol-Myers Squibb Following Global Pharma Review
In a report published Friday, Jefferies analyst Jeffrey Holford reiterated a Buy rating on Bristol-Myers Squibb Co. (NYSE: BMY), but lowered the price target from $53.50 to $53.00.
In the report, Jefferies noted, “We reiterate Novartis as our Top European and Global Pick with positive growth inflection potential in 2014 and significant restructuring optionality being key drivers. Abbott is our Top US Pick for similar reasons. We highlight Roche, Sanofi and AbbVie as potentially offering particularly attractive entry points following the recent sell-off. AstraZeneca is now our Least Preferred stock.”
Bristol-Myers Squibb Co. closed on Thursday at $46.17.
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