Wolfe Research initiated coverage of Bristol Myers (BMY) with a Peer Perform rating. The firm said there maybe a comeback story with Bristol, as it believes there’s a lot to like about the stock heading into 2025 given a new CEO at the helm and a level-set of expectations for the company’s growth profile. However, the firm doesn’t want to get too ahead, as Bristol still has meaningful hurdles ahead, with an going patent expiration for Revlimid and imminent patent expirations for blockbusters Eliquis and Opdivo.
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