Redburn Atlantic Downgrades Bristol-Myers Squibb to Neutral, Lowers Price Target to $54
Portfolio Pulse from Benzinga Newsdesk
Redburn Atlantic analyst Steve Chesney downgraded Bristol-Myers Squibb (BMY) from Buy to Neutral and reduced the price target from $77 to $54, indicating a more cautious outlook on the company's stock.
February 06, 2024 | 11:27 am
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Bristol-Myers Squibb was downgraded by Redburn Atlantic from Buy to Neutral, with a significant reduction in price target from $77 to $54.
The downgrade from Buy to Neutral by a notable analyst, accompanied by a substantial decrease in the price target, suggests a less optimistic view on Bristol-Myers Squibb's future stock performance. This could lead to a negative short-term impact on the stock price as investors adjust their expectations based on this new analysis.
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IMPORTANCE 90
RELEVANCE 100