Bristol Myers price target raised to $60 from $54 at Leerink

Leerink analyst David Risinger raised the firm’s price target on Bristol Myers (BMY) to $60 from $54 and keeps an Outperform rating on the shares. The firm sees significant pipeline optionality in 2026 and thus room for additional stock upside potential. Leerink notes the company provided an overview of its pipeline readouts to watch in 2026 and beyond at a conference on January 12, 2026. The company has 12 registrational data readouts from 8 assets anticipated in 2026, most of which represent significant new launch opportunities in coming years. The firm believes investors heavily discount most pipeline candidates, thus yielding significant upside if some cards turn out to be positive.