Expecting A Buy Bristol Myers Squibb Takeover? You Might Be Waiting A While

When Bristol Myers Squibb (BMY) reports first-quarter earnings next week, BMO Capital Markets’ Alex Arfaei expects the pharmaceutical giant to beat expectations. But that doesn’t mean that the stock is a Buy.

Arfaei reiterated a Market Perform rating and $45 price target on Bristol Friday, writing that while the first quarter may be upbeat, he sees more troubling trends in the second quarter, and that those waiting for a potential takeover offer shouldn’t hold their breath.
Source: Barrons

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