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Fly News Breaks for July 23, 2019
BMY
Jul 23, 2019 | 06:15 EDT
JPMorgan analyst Chris Schott says that while the near-term setup is "messy" into the Q2 results on Thursday, shares of Bristol-Myers are "too cheap to ignore." He points out the stock is trading at seven-times his revised pro forma 2020 earnings estimate. Schott sees a "clear path to growth" for Bristol through the mid-2020s, driven by core products as well as a late stage portfolio of potential new launches. The analyst keeps an Overweight rating on Bristol-Myers with a $62 price target.
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