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UPDATE: Morgan Stanley Upgrades Bristol-Myers Squibb Co. on Potential of New Cancer Drugs

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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

DateFirmActionFromTo
Sep 2016CitigroupMaintainsBuy
Sep 2016JefferiesMaintainsHold
Sep 2016BarclaysMaintainsEqual-weight

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Posted-In: David Risinger Morgan StanleyAnalyst Color Upgrades Analyst Ratings

 

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