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Fly News Breaks for August 19, 2016
BMY
Aug 19, 2016 | 08:51 EDT
UBS analyst Marc Goodman updated his model for Bristol-Myers following the recently failed CheckMate-026 study. The analyst believes the stock weakness following the data release is an overreaction and is being penalized for not only the loss of 1L mono for Opdivo but also a lower likelihood of success for the Opdivo+Yervoy combination which Goodman disagrees with. Goodman reiterated his Buy rating and lowered his price target to $70 from $80 on Bristol-Myers shares.