Bristol-Myers Squibb Stock is once more under selling pressure as various brokerages have downgraded their outlook for the stock following the failure of the Opdivo trial . Credit Suisse has downgraded the stock to neutral and lowered their price target to $63 from $86. They wrote that the failure of the Opdivo trial “stunned” their analysts.
Meanwhile Goldman Sachas which had downgraded the stock back in June, place another downgrade today which is also hurting the stock further. Goldman and Credit Suisse are not the only brokerages to downgrade the stock.
Update To Bristol-Myers Squibb Stock Rescue Strategy
The second plunge today is, in my opinion, an overreaction by investors. Here is how I am handling my Bristol-Myers Squibb Stock positions along with trades done again today.
BMY Stock Trade Alert Details
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