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Bristol-Myers (BMY) PT Raised to $70 at Credit Suisse on 'Stunningly Quick' Opdivo Approval

March 5, 2015 6:59 AM EST
Get Alerts BMY Hot Sheet
Price: $53.25 --0%

Rating Summary:
    6 Buy, 26 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 8 | New: 10
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Credit Suisse analyst V. Divan reiterated a Outperform rating and boosted its price target on Bristol-Myers Squibb Co. (NYSE: BMY) to $70.00 (from $68.00) following the FDA's "stunningly quick approval of Opdivo in previously-treated squamous non-small cell lung cancer (NSCLC) is a significant upside surprise for BMY, both in terms of timing and breadth."

Divan said the quick approval provides upside to sales/EPS in 2015-2017. The firm raised estimates accordingly.

For an analyst ratings summary and ratings history on Bristol-Myers Squibb Co. click here. For more ratings news on Bristol-Myers Squibb Co. click here.

Shares of Bristol-Myers Squibb Co. closed at $65.67 yesterday.



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