June 22, 2012 at 08:47 AM EDT
Citi Reiterates “Buy” Rating on Bristol Myers Squibb; Cash Flow Looking Good (BMY)

Pharmaceuticals maker Bristol Myers Squibb Co. (BMY) on Friday caught some continued bullish support from analysts at Citigroup.

The firm maintained its “Buy” rating and $40 price target on BMY, which suggests a 15% upside to the stock’s Thursday closing price of $34.79.

A Citigroup analyst commented, “We model ’15E-’20E EPS growth for BMY of ~16% supported by added risk-adj sales for BMY’s anti-PD-1 antibody in oncology & our maintained risk-adj. sales est’s. for, BMY’s hepatitis C franchise & best-in-class blood thinner Eliquis. Our PT is supported by a DCF value of $44/share.”

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 3.91% dividend yield, based on last night’s closing stock price of $34.79.

Bristol Myers Squibb Co. (BMY) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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