Pharmaceuticals giant Bristol Myers Squibb Co. (BMY) on Friday caught some bullish commentary from analysts at BMO Capital.
The firm initiated coverage on BMY with an “Outperform” rating and $39 price target, which suggests a 19% upside to the stock’s Thursday closing price of $32.75. BMO Capital said the company’s potential for earnings expansion is being underestimated by the market.
Bristol Myers Squibb shares were mostly flat in premarket trading Friday.
The Bottom Line
We have been recommending shares of Bristol-Myers Squibb (BMY) since Aug.25, 2009, when the stock was trading at $22.58. The company has a 4.15% dividend yield, based on last night’s closing stock price of $32.75.
Bristol Myers Squibb Co. (BMY) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.