Wall Street's Bull Case for Bristol Myers Squibb Is Getting Louder
The company's strong pipeline and newer approved drugs should be enough to allay patent expiration concerns.
Overview
Bristol Myers Squibb (NYSE: BMY) is up a little more than 17% so far this year. Analysts don't seem that optimistic about the pharmaceutical stock, with an average price target of $66.71, just over $3 above its current trading price.
The bear case for the stock is that several of its top sellers, including Eliquis and Opdivo, are facing patent expirations. However, that's discounting the rise in the company's growth portfolio. Here are three reasons why the bull case for the stock is getting louder.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.