Jefferies Raises Price Target on Bristol Myers Squibb (BMY)

Analysts at Jefferies & Co. boosted the price target on pharmaceutical company Bristol Myers Squibb Co. (BMY) on Tuesday, stating that 2013 will be a pivotal year for shaping long-term growth.

The analysts maintain a “Buy” rating on BMY and see shares reaching $41. This new target suggests an 11% upside to Monday’s closing price of $36.93.

Bristol Myers shares were down slightly during morning trading on Tuesday. The stock is up about +15% over the past year.

The Bottom Line
Shares of Bristol Myers (BMY) have a dividend yield of 3.79% based on last night’s closing price of $36.93 and the company’s annualized dividend payout of $1.40 per share.

Bristol Myers Squibb Co. (BMY) is recommended at this time, holding a 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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