Jefferies Reiterates Buy on Bristol-Myers Squibb (BMY) Following a 2017 Outlook

Jefferies reiterated a Buy rating and $69.00 price target on Bristol-Myers Squibb Co. (NYSE: BMY) following a 2017 outlook.

Analyst Jeffrey Holford commented, "We expect 2017 to be a year of strong recovery for BMY as the CM-568 and CM-227 studies deliver data that should mostly displace MRK in 1L NSCLC. We estimate Q4'16 revenue and EPS of $5.13bn (Cons. $5.14bn) and $0.68 (Cons. $0.67) and 2017 revenue and EPS of $20.0bn (Cons. $20.0bn) and $2.94 (Cons. $2.98), respectively. We reiterate our Buy rating and PT of $69."

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 $59.14 yesterday.

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