Bristol-Myers Squibb Co

BMY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$17.00	Lplgf	Cdjywpprpz

Bristol-Myers Earnings: Revlimid Drives Strong Results and Several New Drugs Post Solid Gains

Damien Conover

Jul 26, 2024

We are holding steady to our $63 Bristol-Myers fair value estimate following second-quarter results that ran above our expectations. However, with most of the outperformance stemming from cancer drug Revlimid, we don’t expect the impact to last long as generic pressures will likely increase over the next 12 months. We believe the market is undervaluing Bristol’s new products that are showing increasing potential and should help reinforce the firm’s wide moat.

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