Bristol-Myers Squibb Targets Raised to $72 After Q4 Beats and 90% Phase 3 Odds
Bernstein kept a Hold on Bristol-Myers Squibb with a $58 target, while Morgan Stanley raised its target to $40 from $37 on stronger-than-expected Eliquis guidance boosting 2026 revenue forecasts. BofA and Guggenheim raised targets to $68 and $72 after Q4 guidance beats and 90% odds for Phase 3 catalysts.
1. Bernstein and Morgan Stanley Ratings
Bernstein reiterated its Hold rating on Bristol-Myers Squibb with a $58 price target, emphasizing a balanced risk-reward profile. Morgan Stanley lifted its target to $40 from $37 while keeping an Underweight rating, citing stronger-than-expected Eliquis guidance that pushed 2026 revenue forecasts above consensus.
2. BofA and Guggenheim Upgrades
Bank of America raised its price target to $68 from $64 and maintained a Buy rating after the company beat fiscal Q4 guidance and delivered stronger FY26 outlook. Guggenheim boosted its target to $72 from $62, retaining a Buy rating and highlighting improved odds of success for key clinical assets.
3. Pipeline Catalyst Details
Guggenheim increased success probabilities for iberdomide/mezigdomide and milvexian in secondary prevention to 90%, up from 33% and 75% respectively. These changes reflect confidence in upcoming Phase 3 readouts that could drive significant valuation upside.