Cantor Fitzgerald has initiated its coverage of Bristol Myers (BMY, Financial) with a Neutral rating, setting a price target of $55. The decision comes in the wake of regulatory approval for Bristol's schizophrenia medication, Cobenfy, coupled with setbacks faced by competitors in the muscarinic space.
The analyst emphasizes that Bristol Myers' core business health has seen positive developments. However, a key concern remains whether there is potential for further stock appreciation given the stock's impressive 43% rise since the beginning of July last year.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for Bristol-Myers Squibb Co (BMY, Financial) is $58.06 with a high estimate of $70.00 and a low estimate of $33.10. The average target implies an upside of 18.63% from the current price of $48.94. More detailed estimate data can be found on the Bristol-Myers Squibb Co (BMY) Forecast page.
Based on the consensus recommendation from 28 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 $63.10, suggesting a upside of 28.93% from the current price of $48.94. 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.
