BMY current price is $77.26 so a price target of $78 is basically a HOLD not a BUY rating. However one must not forget that BMY was $57 on 08/12/2021 and since then it shot up 35% whilst nearly all non large pharmaceuticals companies were being slaughtered since that date. Not even LMT had a better performance from 08/12 (
08/12 is the day I did a major change in my investment strategy). Thank you Giovanni for enlightening me with your passing comments.
2022-2024 are 3 years of consolidation for BMY as we have an amortization of ~$10B to write off annually ($5 per share in GAAP EPS) in connection with our Celgene buyout and concurrently generic Revlimid increases penetration.
However during this 3 year period the
subcutaneous nivolumab (first peep soon at ASCO in 2 weeks) will be out and
subcutaneous nivolumab + rela trials would have hopefully advanced. If approved they will be game changers in terms of convenience and nivolumab patent transitions. Add to that iberdomide and CC-92480 would be advancing too in this 3 year consolidation period. Analysts and market still need to be convinced that BMY have no patent cliffs. Time will tell.
In the meantime Rome (EU) is burning to the ground irrespective of the outcome of the war. Not sure if this is collateral damage or the intended agenda but without cheap gas German economy is doomed. If Germany sneezes EU and Euro implode. As the intended objective of 🇷🇺 🇨🇳 might a commodities based order I have recently initiated positions in mining and Canadian energy companies. If any biotech company in my portfolio gets bought out i will be rotating the proceeds to mining and energy.
Do your own due diligence. I pray that my view of how this war will unfold economically (primarily in EU) is wrong/ overly pessimistic as otherwise….