UPDATE: BMO Capital Starts Bristol-Myers Squibb Co. (BMY) at Outperform
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BMO Capital analyst Evan David Seigerman initiates coverage on Bristol-Myers Squibb Co. (NYSE: BMY) with a Outperform rating and a price target of $72.00.
The analyst comments "We initiate coverage of Bristol-Myers Squibb with an Outperform rating and a $72 target price, based on: 1) Our view of strong fundamentals that are not fully reflected in current valuation, anchored by I/O and hematology businesses; 2) Margin expansion potential driven by the CV and immunology businesses; 3) Muted valuation relative to peers; and 4) Priced-in Revlimid erosion and path forward."
Shares of Bristol-Myers Squibb Co. closed at $59.44 yesterday.
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