Highlights:
- Bristol Myers Squibb exceeds third-quarter earnings forecasts with non-GAAP EPS of $1.80.
- Revenue climbs to $11.2 billion, surpassing analyst expectations by $490 million.
- Analyst price targets suggest a potential upside of over 20% from the current market price.
Strong Third-Quarter Performance
Bristol Myers Squibb (BMY, Financial) impressed investors with its third-quarter financial performance. The pharmaceutical giant reported non-GAAP earnings per share of $1.80, significantly outpacing expectations by $0.30. This achievement was bolstered by a notable rise in revenue, which reached $11.2 billion—exceeding forecasts by $490 million. Favorable foreign exchange movements played a crucial role in this revenue boost.
Analyst Forecasts and Price Targets
The outlook from Wall Street analysts presents a promising picture for Bristol Myers Squibb Co (BMY, Financial). Based on the one-year price targets set by 22 analysts, the average target price stands at $56.89, with estimates ranging from a high of $70.00 to a low of $33.10. This suggests an enticing potential upside of 20.02% based on the current stock price of $47.40. For a more in-depth analysis, visit the Bristol-Myers Squibb Co (BMY) Forecast page.
Brokerage Recommendations
In terms of brokerage recommendations, Bristol Myers Squibb Co (BMY, Financial) currently holds an average recommendation of 2.7, signifying a "Hold" status. This consensus is derived from 28 brokerage firms, utilizing a rating scale where 1 represents a Strong Buy and 5 indicates a Sell.
Understanding the GF Value Estimate
According to GuruFocus estimates, the anticipated GF Value for Bristol Myers Squibb Co (BMY, Financial) in one year is projected at $63.10. This estimation indicates a substantial potential upside of 33.12% from the current stock price of $47.4. The GF Value is GuruFocus' fair value estimation, derived from historical stock multiples and projections of the company's future performance. For further detailed insights, explore the Bristol-Myers Squibb Co (BMY) Summary page.
