Analyst: Positive Catalysts Can't Save This Pharma Stock

Biopharmaceutical stock Bristol-Myers Squibb Co (NYSE:BMY) is in focus this morning, after a downgrade to "neutral" from "buy" at Redburn-Atlantic. The analyst in coverage also lowered its price target to $54 from $77 -- still a 12.6% premium to last night's close at $47.98. BMY is fractionally lower before the open.The Wall Street analyst cited concerns regarding Bristol-Myers Squibb's product pipeline and market challenges. It argued that any positive impact from the company's recent acquisitions won't be ...