HSBC Initiates Coverage On Bristol-Myers Squibb with Reduce Rating, Announces Price Target of $56
Portfolio Pulse from richadhand@benzinga.com
HSBC analyst Rajesh Kumar has initiated coverage on Bristol-Myers Squibb (NYSE:BMY) with a Reduce rating and a price target of $56.
July 14, 2023 | 8:47 am
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HSBC has initiated coverage on Bristol-Myers Squibb with a Reduce rating and a price target of $56, which may negatively impact the stock's price in the short term.
HSBC's Reduce rating indicates that the analyst believes Bristol-Myers Squibb's stock is likely to underperform in the near future. The price target of $56, if lower than the current price, suggests that the analyst expects the stock's price to decrease. This news is likely to negatively impact investor sentiment and could lead to a decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100