Jefferies Maintains a 'Buy' on Bristol-Myers Squibb (BMY); Growth Drivers Exceed Expectations
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Price: $67.23 +2.69%
Rating Summary:
12 Buy, 22 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 22 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Buy' on Bristol-Myers Squibb Co. (NYSE: BMY) price target lowered from $39 to $38.
Jefferies analyst says, "Consensus was at the top end of the 2012 guidance range for revenues and EPS after sluggishly falling on clear warnings from the company over the past few months. We take much heart from the strength of the growth portfolio in Q4'11 (Yervoy, Abilify, Reyataz, Baraclude, Sprycel and Erbitux) and see the Eliquis approval and launch as being the next key driver for the shares."
"We have updated our model for FY 2011 financials, 2012 guidance and FX movements. As a result, we adjusted our estimates for revenues and EPS by -2% to +2% during our forecast period. Our 2012E estimates for revenue and non-GAAP EPS are $18.2bn (Cons. $18.1bn) and $1.94 (Cons. $1.98) versus guidance of $1.90-$2.00."
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 $32.29 yesterday.
Jefferies analyst says, "Consensus was at the top end of the 2012 guidance range for revenues and EPS after sluggishly falling on clear warnings from the company over the past few months. We take much heart from the strength of the growth portfolio in Q4'11 (Yervoy, Abilify, Reyataz, Baraclude, Sprycel and Erbitux) and see the Eliquis approval and launch as being the next key driver for the shares."
"We have updated our model for FY 2011 financials, 2012 guidance and FX movements. As a result, we adjusted our estimates for revenues and EPS by -2% to +2% during our forecast period. Our 2012E estimates for revenue and non-GAAP EPS are $18.2bn (Cons. $18.1bn) and $1.94 (Cons. $1.98) versus guidance of $1.90-$2.00."
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 $32.29 yesterday.
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