In a report released yesterday, Alex Arfaei from BMO Capital maintained a Hold rating on Bristol Myers (NYSE: BMY), with a price target of $54. The company’s shares closed yesterday at $50.88, close to its 52-week low of $49.96.
According to TipRanks.com, Arfaei is a 5-star analyst with an average return of 8.8% and a 73.0% success rate. Arfaei covers the Healthcare sector, focusing on stocks such as Elanco Animal Health Inc, Merck & Company, and Eli Lilly & Co.
Currently, the analyst consensus on Bristol Myers is a Moderate Buy with an average price target of $60.86, a 19.6% upside from current levels. In a report issued on October 8, Guggenheim also initiated coverage with a Hold rating on the stock with a $70 price target.
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The company has a one-year high of $70.05 and a one-year low of $49.96. Currently, Bristol Myers has an average volume of 6.42M.
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Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.