Key Takeaways:
- Goldman Sachs downgrades Bristol-Myers Squibb (BMY, Financial) to Neutral, reducing its price target from $67 to $55.
- The average analyst target suggests a potential upside of 12.54% from the current share price.
- GuruFocus estimates a GF Value of $62.95, indicating an 18.62% potential upside.
Goldman Sachs has revised its outlook on Bristol-Myers Squibb (BMY), moving its rating to Neutral and adjusting the price target to $55 from $67. Concerns over revenue declines due to patent expirations and uncertainty about future earnings, despite new product launches, fueled the downgrade.
Wall Street Analysts Forecast
According to predictions from 21 analysts over the next year, the average target price for Bristol-Myers Squibb Co (BMY) is $59.72. Forecasts range from a high of $70.00 to a low of $33.10, with the average target suggesting a potential upside of 12.54% from the current market price of $53.07. For more in-depth estimates, visit the Bristol-Myers Squibb Co (BMY, Financial) Forecast page.
Consensus from 27 brokerage firms places Bristol-Myers Squibb Co's (BMY, Financial) average recommendation at 2.7 on a scale from 1 to 5. This rating indicates a "Hold" status, where 1 represents a Strong Buy and 5 indicates a Sell.
Assessing GF Value
According to GuruFocus estimates, the GF Value for Bristol-Myers Squibb Co (BMY, Financial) in the next year is projected to be $62.95. This valuation suggests a significant potential upside of 18.62% from the current price of $53.07. The GF Value represents an estimate of the fair market value, derived from historical trading multiples, past growth, and future business performance predictions. Detailed insights are available on the Bristol-Myers Squibb Co (BMY) Summary page.
