Goldman Sachs Downgrades Bristol-Myers Squibb (BMY) to Neutral, Likes Johnson & Johnson (JNJ) More

Goldman Sachs downgraded Bristol-Myers Squibb Co. (NYSE: BMY) from Buy to Neutral, while upgrading Johnson & Johnson (NYSE: JNJ).

The firm said Bristol-Myers superior new product story is now better appreciated while Johnson & Johnson's remains under the radar screen.

Goldman said the downgrades does not imply a change in their constructive view on Bristol-Myers, but with less than 11% upside to their $32 price target they see better upside in Johnson & Johnson.

For more ratings news on Bristol-Myers Squibb Co. click here and for the rating history of Bristol-Myers Squibb Co. click here.

Shares of Bristol-Myers Squibb Co. closed at $28.81 yesterday.

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