Jefferies Raises Price Target on Bristol Myers (BMY)

Jefferies Raises Price Target on Bristol Myers (BMY)

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Jefferies reported on Wednesday that they have raised their price target on global biopharmaceutical company, Bristol Myers Squibb Co.(BMY)

The firm, which currently has a “Buy” rating on BMY, has increased their price target for the company to $39. This price target suggests a % increase from the stock’s current price of $34.30.

Analysts have increased the stock’s price target based on the company’s big year in clinical trial results.

Bristol Myers Squibb shares were mostly flat during premarket trading Wednesday. The stock has increased 1.5% in the past year.

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 4.08% dividend yield, based on last night’s closing stock price of $34.30.

Bristol Myers Squibb Co.(BYM) is a “Recommended” dividend stock at this time, 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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