BofA raised the firm’s price target on Bristol Myers (BMY) to $68 from $64 and keeps a Buy rating on the shares. The firm raised near-term forecasts after the company delivered Q4 and FY26 guidance beats. Ultimately, Bristol Myers “is a pipeline story” and the firm thought Q4 commentary was supportive of some key programs where safety remains an open question, adding that read-across from competitor Bayer’s (BAYRY) Phase 3 SSP results help to derisk that opportunity for milvexian.
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