Bristol-Myers Squibb: Sell Now, Buy Later (Rating Downgrade)

JHVEPhoto When I last wrote about the pharmaceuticals company Bristol-Myers Squibb (NYSE:BMY) in June, there appeared little impetus for a price uptick. The company had made a shock earnings outlook downgrade for 2024 following massive acquisition related charges, resulting in an impossibly high forward non-GAAP price-to-earnings (P/E) ratio for the year. This meant that before a re-normalisation of its EPS in 2025, there was little else foreseeable that could surprise about BMY. I was wrong. The stock  ...