I’ll Play, Says Jim Cramer About Bristol-Myers (BMY)

Core Insights - Bristol-Myers Squibb Company (NYSE:BMY) is receiving increased attention from analysts, with multiple firms issuing positive ratings and price targets, indicating a favorable outlook for the company [2][3]. Analyst Ratings - Jefferies reiterated a Buy rating with a price target of $68 on December 4th, while Scotiabank raised its target from $45 to $53, maintaining a Sector Perform rating [2]. - Guggenheim set a price target of $62 with a Buy rating on December 12th, reflecting optimism about the company's pipeline [2]. Regulatory Developments - The FDA granted traditional approval to Bristol-Myers' Breyanzi drug for certain patients with relapsed or refractory marginal zone lymphoma on December 4th [3]. - On December 11th, the FDA also granted Priority review to Opdivo for the treatment of Hodgkin lymphoma, further enhancing the company's regulatory profile [3]. Market Context - Jim Cramer discussed Bristol-Myers in relation to broader drug stocks, suggesting that the stock could see higher multiples despite a lack of new developments [4]. - The commentary indicates a belief that the market may be willing to assign higher valuations to drug stocks, including Bristol-Myers, in the current environment [4].