Bristol-Myers Squibb Announces Cash Tender Offer For Up to $400 Million Aggregate Principal Amount of its Outstanding Debt Securities

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Bristol-Myers (BMY) Bullish Stance Reiterated at BMO Capital Post Q1 and Ahead of ASCO Inflection for Opdivo

April 29, 2015 9:01 AM EDT

BMO Capital analyst Alex Arfaei reiterated an Outperform rating and $75 on Bristol-Myers Squibb Co. (NYSE: BMY) following Q1 results and as ASCO should be an inflection point for Opdivo.

commented, "On the surface, 1Q looked solid: 6% topline beat, EPS $0.71 vs. $0.51. However, the Abilify beat is short-lived, and focus remains on the IO franchise. As we expected Yervoy sales were 6% below consensus, probably reflecting increased competition, and Opdivo sales... More