Bristol-Myers Squibb Co

BMY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$15.00	Hzkq	Kzcrjyztpj

Bristol-Myers Earnings: Largely in Line Results but New Drug Launches Post Mixed Growth

Damien Conover

Feb 2, 2024

We are not making any changes to our Bristol fair value estimate following largely in line fourth-quarter results, even though 2024 guidance is slightly above our projections. We continue to view the stock as undervalued, with the market not fully appreciating the newer drug launches that help reinforce the firm’s wide moat by helping mitigate the firm’s significant upcoming patent losses.

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