Bristol-Myers Squibb Upgraded to “Overweight” at Morgan Joseph (BMY)
Bristol-Myers Squibb (NYSE:BMY) was upgraded by stock analysts at Morgan Joseph from a “neutral” rating to an “overweight” rating in a report issued on Monday, American Banking and Market News reports. The firm currently has a $52.00 target price on the stock, up from their previous target price of $50.00. Morgan Joseph’s target price would suggest a potential upside of 15.20% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a “neutral” rating to an “overweight” rating in a research note to investors on Monday. They now have a $52.00 price target on the stock, up previously from $50.00. Separately, analysts at Jefferies Group cut their price target on shares of Bristol-Myers Squibb (NYSE:BMY) from $45.00 to $41.00 in a research note to investors on Tuesday, September 10th. They now have a “hold” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note to investors on Wednesday, September 4th.
Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.36.
Bristol-Myers Squibb (NYSE:BMY) traded up 3.63% on Monday, hitting $45.14. 10,213,799 shares of the company’s stock traded hands. Bristol-Myers Squibb has a 52-week low of $30.64 and a 52-week high of $49.57. The stock’s 50-day moving average is $42.73 and its 200-day moving average is $42.60. The company has a market cap of $74.315 billion and a P/E ratio of 53.19.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.01. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post $1.74 EPS for the current fiscal year.
Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis.
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