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Bristol-Myers Squibb Co. (BMY) PT Lowered to $58 at Barclays

January 24, 2017 3:47 AM EST
Get Alerts BMY Hot Sheet
Price: $54.23 +1.84%

Rating Summary:
    6 Buy, 26 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Barclays lowered its price target on Bristol-Myers Squibb Co. (NYSE: BMY) to $58.00 (from $65.00) while maintaining a Equalweight rating.

Analyst Dr. Geoff Meacham comments "We expect BMY to be the leader in immuno-oncolog, but the failure of CheckMate-026 limits near term market penetration in lung cancer. Given the delay in the revenue and EPS ramp until 2018/2019, we believe significant multiple expansion is unlikely absent clinical data that improves visibility on the growth trajectory."



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