Bank of America has reduced its price target for Bristol Myers Squibb (BMY, Financial) to $58, down from $63, while maintaining a Neutral rating on the stock. This adjustment reflects the company's slightly diminished revenue and earnings estimates across its product portfolio.
For the first quarter, projections suggest a minor decrease in both total revenue and earnings per share (EPS), with a similar trend expected to persist into 2025. Specifically, the forecast for EPS in 2025 has been adjusted downward by 0.5%.
Looking further ahead, through the late 2020s, total revenue predictions are expected to drop slightly. This decline is largely attributed to weaker sales of Camzyos, following an unsuccessful Phase 3 ODYSSEY trial, as well as lower performance from Zeposia, according to the analyst's insights shared in a preliminary review for the quarter.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Bristol-Myers Squibb Co (BMY, Financial) is $58.34 with a high estimate of $70.00 and a low estimate of $33.10. The average target implies an upside of 18.20% from the current price of $49.36. More detailed estimate data can be found on the Bristol-Myers Squibb Co (BMY) Forecast page.
Based on the consensus recommendation from 27 brokerage firms, Bristol-Myers Squibb Co's (BMY, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Bristol-Myers Squibb Co (BMY, Financial) in one year is $63.03, suggesting a upside of 27.69% from the current price of $49.36. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Bristol-Myers Squibb Co (BMY) Summary page.
