Bristol Myers Squibb Stock Surpasses Analyst Target Price of $59.90
Recently, shares of Bristol Myers Squibb Co. (Symbol: BMY) exceeded the average analyst 12-month target price of $59.90, trading at $60.18 per share. When a stock hits an analyst’s target, the analyst typically faces two choices: downgrade due to valuation concerns or adjust the price target upward. The response may also hinge on the company’s fundamental developments; positive news could warrant a higher target price.
Analyst Target Price Range and Variability
Within the Zacks coverage universe, there are 21 different analyst targets contributing to the average for Bristol Myers Squibb Co. However, averages can be misleading as they represent a mathematical mean. Some analysts have set lower target prices, with one suggesting a price of $37.00. Meanwhile, on the higher end, one analyst has set a target at $70.00, leading to a standard deviation of $7.993.
Analyzing the average BMY price target helps investors gauge market sentiment, encapsulating input from multiple analysts rather than relying on a single viewpoint. With BMY’s price surpassing the average target of $59.90 per share, investors are encouraged to evaluate whether this is an interim milestone on the way to even higher targets or if the valuation has become too stretched to justify continued investment.
Current Analyst Ratings for Bristol Myers Squibb
| Recent BMY Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 7 | 7 | 7 | 6 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 17 | 17 | 16 | 17 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 2.49 | 2.49 | 2.47 | 2.55 |
The average rating in the table ranges from 1 to 5, with 1 indicating Strong Buy and 5 indicating Strong Sell. The data presented is sourced from Zacks Investment Research via Quandl.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
