Hold Rating for Bristol-Myers Squibb Amid Uncertain Revenue Projections and Fair Valuation

Analyst Evan Seigerman of BMO Capital maintained a Hold rating on Bristol-Myers Squibb, retaining the price target of $47.00.

Evan Seigerman’s rating is based on the current performance and future expectations of Bristol-Myers Squibb’s product, Cobenfy. The drug has shown steady growth in prescriptions, but not at a rate that indicates a significant market breakthrough. Despite the increase in weekly and monthly prescriptions, the numbers are projected to fall short of the consensus revenue estimates for the third quarter of 2025.
Additionally, the revised assumptions regarding gross-to-net discounts and inventory levels add further uncertainty to revenue forecasts. The overall assessment is that the company’s shares are fairly valued, with stable cash flows from existing businesses and new product launches progressing at a slower pace than anticipated. These factors collectively contribute to the Hold rating, suggesting that the stock is expected to perform in line with the market.