BofA Upgrades Bristol-Myers Squibb (BMY) Stock to Buy from Neutral

Bristol-Myers Squibb Company (NYSE:BMY) is 1 of the Best Stocks to Invest successful for the Next 3 Years. On December 15, BofA upgraded the company’s banal to “Buy” from “Neutral” with a price nonsubjective of $61, an summation from $52, fixed the company’s R&D pipeline, arsenic reported by The Fly. As per the firm, 4-6 programs are expected to present cardinal de-risking catalysts implicit the adjacent term. It believes that the existent weakness is simply a buying accidental arsenic blimpish trough EPS offers a level for the stock price.

Furthermore, the steadfast sees favorable risk/reward arsenic Bristol-Myers Squibb Company (NYSE:BMY) approaches 2026 filled with catalysts. Multiple scenarios tin spot the institution connected a instrumentality to maturation successful 2029 and beyond. The steadfast applied a 10x P/E aggregate to Bristol-Myers Squibb Company (NYSE:BMY)’s FY 2027 estimated EPS. This reflects an summation from the anterior 8x multiple, which was applied to 2026 estimates.

In a antithetic update, connected December 11, Bristol-Myers Squibb Company (NYSE:BMY) announced that the US FDA accepted and granted precedence reappraisal to the supplemental Biologics License Application (sBLA). This is for Opdivo® (nivolumab) successful operation with doxorubicin, vinblastine, and dacarbazine (AVD) for big and pediatric (12 years and older) patients having antecedently untreated Stage III oregon IV classical Hodgkin Lymphoma (cHL).

Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.