Jefferies analyst Akash Tewari raised the price target on Bristol-Myers Squibb Co. (NYSE: BMY) to $70.00 (from $68.00) while maintaining a Buy rating.

The analyst commented, "BMY's SUCCESSOR-2 interim w/ mezi (CELMoD) showed stat sig/clin meaningful PFS improv. vs Kd in post-Revlimid RRMM. Our illustrative analysis suggests mPFS delta could be trending >4mo to hit at interim. Overall, we think this data is 1st step in BMY's LT goal to replace IMiDs as backbone of RRMM tx. Co remains confident in their SUCCESSOR-1 H2H superiority trial vs Pomalyst (data '27). Post the topline, we incr. mezi's risk-adj PS to $758M (70% POS in RRMM)."