Are Bristol-Myers (NYSE:BMY) Shares Worth Your Time and Dime Following Recent Guggenheim Upgrade?


Bristol-Myers (NYSE:BMY) Stock Upgrade

In an analyst research report sent to investors and clients on Wednesday morning, investment analysts at the Guggenheim research division increased shares of Bristol-Myers (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 3.60% above today’s ($68.81) 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.

Approximately 2.14M 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 $114.85 billion. The Company’s products are sold to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. It has 65.03 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).