Scotiabank Initiates Coverage on Bristol Myers (BMY) with Sector Perform Rating and $45 Target

Core Insights - Bristol-Myers Squibb Company (NYSE:BMY) is recognized as one of the 15 Best Passive Income Stocks to Buy Right Now [1] - Scotiabank has initiated coverage on Bristol-Myers Squibb with a Sector Perform rating and a price target of $45 [2] Financial Performance - In Q3 2025, Bristol-Myers Squibb reported revenue of $12.22 billion, reflecting a 2.77% increase year-over-year, exceeding analysts' estimates by $422.1 million [3] - Revenue from the Growth Portfolio increased by 18% to $6.9 billion [3] Guidance and Projections - The company has raised its full-year revenue guidance by $750 million, now projected to be between $47.5 billion and $48 billion, driven by the Growth Portfolio's strength [4] - Gross margins are expected to remain around 72%, with operating expenses projected at $16.5 billion [4] - Legacy portfolio sales are anticipated to decline by 15%–17% for the year [4]