Bristol-Myers Squibb Company (NYSE:BMY) Receives a Higher Rating From Guggenheim. What’s The Reasoning Behind This Move?

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Bristol-Myers Squibb Company (NYSE:BMY) Stock Upgrade

In an analyst note disseminated on Wednesday morning, equity analysts at the Guggenheim equities research division hiked shares of Bristol-Myers Squibb Company (NYSE:BMY) stock from a Neutral to a respectable Buy rating.

From a total of 18 analysts covering Bristol-Myers Squibb Company (NYSE:BMY) stock, 12 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $80 while the lowest target price is $61. The mean of all analyst targets is $72.44 with a 4.48% above today’s ($68.23) stock price. Bristol-Myers Squibb Company was the topic of 11 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on December 1 with “Equal Weight” rating. Piper Jaffray upgraded BMY stock in a recent report from August 24 to “Underweight” rating.

The stock decreased 0.04% or $0.03 on December 2, striking $68.23. Approximately 1,036 shares of stock traded hands. Bristol-Myers Squibb Co (NYSE:BMY) has risen 6.18% since April 29, 2015 and is uptrending. It has outperformed by 6.38% the S&P500.

Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products across the world. The company has a market cap of $113.88 billion. The Company’s products are sold to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. It has 64.48 P/E ratio. The Firm makes its products in the United States, Puerto Rico and in six foreign countries.

According to Zacks Investment Research, “Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression, schizophrenia and other mental disorders; pain; and other conditions.” Get a free copy of the Zacks research report on Bristol-Myers Squibb Co (BMY).

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