Morgan Stanley Provided Color on Bristol Myers Squibb BMY.
In a research report published today, Morgan Stanley states, “We expect 2013 EPS guidance to remain unchanged
at minimum $1.95. In conjunction with long-term
strategic planning in June, we expect Bristol to update
its 2013 comments when it reports results (likely July
28th). Given apixaban's stronger-than-expected profile
(superiority to warfarin on both efficacy and bleeding),
we think BMY/PFE will want to invest incrementally
more in the late 2012 launch in order to fully capitalize
on the bigger opportunity… Hence, we expect unchanged
2013 EPS guidance of minimum $1.95.”
At the moment, Morgan Stanley has an Overweight rating placed on the company's stock. On Wednesday, Bristol Myers closed the day at $28.54. Its shares added 1.16% to their value in today's pre-market trading to trade around $28.87.
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