Bristol-Myers Squibb Co. (BMY) PT Raised to $92 at BMO Capital on Camzyos Approval

May 2, 2022 6:55 AM EDT
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Price: $74.15 --0%

Rating Summary:
    13 Buy, 14 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 5 | Down: 15 | New: 12
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BMO Capital analyst Evan David Seigerman raised the price target on Bristol-Myers Squibb Co. (NYSE: BMY) to $92.00 (from $87.00) on Camzyos approval, expense adjustments and other tweaks across the P&L after the company reported a good enough quarter, despite a more rapid Revlimid erosion curve OUS.

The analyst reiterated an Outperform rating, stating "we're positive on the Bristol story following the recent approval of Camzyos. Taking a step back, we appreciate the P&L management with guidance maintained top-line and the only impact to EPS was driven by the ubiquitous IPR&D inclusion(impacting nearly all of our large cap coverage). We're paying close attention to the faster erosion of Revlimid OUS (driving the downward guide of the asset for the year)."

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