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Citi (C) Has A Price Target Of $30 For Bristol Myers Squibb (BMY)

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Citi's (NYSE: C) analysts have a price target of $30 for Bristol Myers Squibb Co. (NYSE: BMY), and they expect BMY to have 2011 EPS of $2.32.

Their rating for Bristol Myers Squibb Co. (BMY) is "Medium risk". The company is trading at approximately 60% premium to its peers and the possibility for pipeline setbacks have decreased with the success of products like Onglyza, apixaban and dapagliflozin.

In 2012-14, Bristol Myers Squibb Co. (BMY) will have to face the expiration of the key growth drivers, Plavix, Avapro and Sustiva.

Bristol Myers Squibb Co. (BMY) recently presented 76-week long-term efficacy & safety data on its Onglyza. Citi's analysts believe that Onglyza has a competitive advantage over Merck's (NYSE: MRK) Janumet.

Bristol Myers (BMY) is trading in the red zone today, it dropped 0.08% so far.

 

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