Morgan Stanley downgrades Bristol-Myers Squibb on drug pipeline concern

The New York Stock Exchange welcomes Bristol Myers Squibb on Nov. 20th, 2020.

NYSE

Uncertainty around future drug developments could hold back the stock price of Bristol-Myers Squibb, according to Morgan Stanley.

Analyst David Risinger downgraded the stock to equal weight from overweight on Friday, saying that the long-term picture for the company’s earnings power was getting less positive.

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