Analysts: Bristol-Myers Shows Pipeline Catalysts and 3 Other Research Notes to Look Over
Bristol-Myers Squibb (NYSE:BMY): JPMorgan upgraded Bristol-Myers to Overweight from Neutral, citing the recent pullback in shares and immunotherapy pipeline catalysts over the next 12 to 18 months. The firm raised its price target for the shares to $52 from $50.
Abbott (NYSE:ABT): Wells Fargo believes there is a 70 percent chance that Abbott’s MitraClip device will be approved by the Food and Drug Administration, even though an FDA panel only recommended approval of the product by a narrow 5-3 vote in March. The firm thinks the Mitraclip, along with several other catalysts, should help accelerate the company’s medical device unit, which accounts for 25 percent of its total sales. The firm keeps an Outperform rating on Abbott.
Western Union (NYSE:WU): Sterne Agee upgraded Western Union to Buy from Neutral based on improving momentum and easier 2014 revenue and expense comps. The price target on the shares has been raised to $22.
American Tower (NYSE:AMT): Nomura upgraded American Tower to Buy from Neutral based on strong site leasing revenue growth and relative valuation. The shares’ price target has been raised to $90 from $85.
Don’t Miss: Mr. Market Throws Summers a Farewell Party.