Will This Coverage Initiation Affect Bristol-Myers Squibb (BMY) Stock Today?

NEW YORK (TheStreet) -- Deutsche initiated coverage on Bristol-Myers Squibb  (BMY) with a "hold" rating and a $52 price target based on valuation.

The stock was up 0.45% to $51 in pre-market trading Wednesday.

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Separately, TheStreet Ratings team rates BRISTOL-MYERS SQUIBB CO as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate BRISTOL-MYERS SQUIBB CO (BMY) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, notable return on equity, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: BMY Ratings Report

BMY Chart BMY data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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