UPDATE: Jefferies Raises PT to $41 on Bristol-Myers Squibb on Long-Term Growth Prospects

Jefferies maintained Bristol-Myers Squibb 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.