UPDATE: Morgan Stanley Upgrades Bristol-Myers Squibb Co. on Potential of New Cancer Drugs
In a report published Monday, Morgan Stanley analyst David Risinger upgraded the rating on Bristol-Myers Squibb Co. (NYSE: BMY) from Equal-Weight to Overweight, and raised the price target from $45.00 to $60.00.
In the report, Morgan Stanley noted, “Upgrading to OW and raising PT from $45 to $60 after raising 2020E EPS by 27%; $60 PT is up 23% from Friday's close. BMY is the leading contender to transform cancer treatment with new drugs that boost the immune system.”
Bristol-Myers Squibb Co. closed on Friday at $48.77.
Latest Ratings for BMY
|Jul 2015||Leerink Swann||Maintains||Outperform|
|Jun 2015||Piper Jaffray||Initiates Coverage on||Underperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.