BMY BRISTOL MYERS SQUIBB CO
Price Chart
Executive Summary
UBS upgraded Bristol-Myers Squibb (BMY) from Neutral to Buy on January 7, 2026, raising its price target from $46 to $65, a 41% increase. The upgrade was part of a 13-firm analyst cluster, but UBS's own track record on BMY is weak (50% accuracy on 2 calls). Consensus is cautious: 53% of 36 analysts rate it Hold or Sell, with a mean target of $63.04 (4% upside from $60.59). Meanwhile, EPS estimates are being revised lower — 11 downgrades vs 5 upgrades for the current quarter over the past 30 days. Insider selling, institutional trims by FMR and Renaissance, and a short interest ratio of 59.3% point to bearish sentiment. The upgrade offers a contrarian bullish catalyst, but the fundamental headwinds and high short interest create a mixed outlook. Next earnings are due July 30, 2026, providing a potential trigger for volatility.
Impact Score
Consensus & Targets
Among 36 analysts tracking BMY: 6 Strong Buy, 9 Buy (42% bullish), 19 Hold (53%), 2 Sell (6%). The consensus is heavily tilted toward Hold, reflecting uncertainty about the company's growth trajectory. UBS's upgrade shifts one vote from Neutral to Buy but does not change the overall cautious consensus.
Mean price target is $63.04, median $64, high $75 (Piper Sandler), low $40 (from a single analyst). Current price of $60.59 implies +4% upside to the mean. UBS's $65 target is slightly above the mean and median, placing it in the upper half of the range but well below the high of $75.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-04-09 | B of A Securities | maintain | Buy | $67.00 |
| 2026-04-08 | Guggenheim | reiterate | Buy | $72.00 |
| 2026-04-08 | Cantor Fitzgerald | maintain | Neutral | $54.00 |
| 2026-03-17 | HSBC | maintain | Hold | $60.00 |
| 2026-02-25 | RBC Capital | initiate | Sector Perform | $60.00 |
| 2026-02-23 | Piper Sandler | maintain | Overweight | $75.00 |
| 2026-02-20 | Barclays | initiate | Overweight | $75.00 |
| 2026-02-06 | Citigroup | maintain | Neutral | $64.00 |
| 2026-02-06 | Wells Fargo | maintain | Equal-Weight | $60.00 |
| 2026-02-06 | Guggenheim | maintain | Buy | $72.00 |
Zero analyst upgrades or downgrades were recorded in the 30 days prior to the trigger (data as of January 7). EPS revision momentum is negative: the current quarter has 5 upward revisions vs 11 downward over the last 30 days, and the next quarter has 5 up vs 10 down. Estimates for the current fiscal year are seeing 8 up vs 12 down. The trend suggests earnings pressure is building.
Firm Track Record — UBS
UBS accuracy: 55% on 5083 calls | avg return: 4.6%
Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 10 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Jefferies | 100% | 3/3 | 10.4% | top tier |
| Goldman Sachs | 100% | 2/2 | 10.3% | top tier |
| TD Cowen | 100% | 2/2 | 17.5% | top tier |
| BMO Capital | 80% | 4/5 | 10.2% | top tier |
| Cantor Fitzgerald | 80% | 4/5 | 6.7% | top tier |
| Morgan Stanley | 67% | 2/3 | 0.6% | top tier |
| UBS | 50% | 1/2 | 1.2% | below average |
| Citigroup | 40% | 2/5 | 6.4% | below average |
| Barclays | 40% | 2/5 | 16.9% | below average |
| Wells Fargo | 25% | 1/4 | -2% | below average |
UBS has a 55% accuracy rate on 5,083 calls overall with average return of 4.6%. However, its BMY-specific record is weak: 1 correct out of 2 calls (50% accuracy, avg return 1.2%). Among covering firms, Jefferies, Goldman Sachs, and TD Cowen have 100% accuracy on 2-3 calls each; BMO Capital and Cantor Fitzgerald are at 80%. UBS's accuracy on BMY is below the peer average.
Earnings Estimates
Next earnings: Jul 30, 2026
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $1.42 | $1.23 — $1.53 | $10.9B | ↑2 ↓0 |
| +1q | $1.64 | $1.55 — $1.76 | $12.0B | ↑2 ↓0 |
| 0y | $6.31 | $6.27 — $6.35 | $47.5B | ↑3 ↓0 |
| +1y | $6.14 | $5.34 — $6.97 | $46.1B | ↑2 ↓0 |
Cross-Platform Signals
Insider trading: Director Elkins David V sold $1.57M worth of shares on April 1, 2026. Institutional activity: Norges Bank appeared both as a new position ($1.95B) and an exit (data discrepancy), while FMR trimmed 36.5% and Renaissance trimmed 35.8% of their holdings. Short interest stands at 59.3% of free float, indicating extreme bearish positioning. No congressional trades were reported. Insider selling and institutional trimming diverge from the bullish analyst upgrade, while the short ratio suggests potential for a squeeze if sentiment turns.
Actionable Insight
The UBS upgrade provides a tactical bullish signal, but the weight of negative EPS revisions, insider selling, and heavy short interest argues for caution. Traders should watch for a short squeeze above $65 if momentum builds, but the trend favors waiting for a clearer fundamental catalyst — such as the July 30 earnings report — before adding long exposure.
Documents Analyzed
Report based on filing metadata.
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 31, 2026
12d ago
|
ANALYST-UPGRADE
| $56.71 $59.25 | ▲ +4.48% | ▲ +6.22% | $57.13 (+0.75%) |
|
May 1, 2026
6w ago
|
ANALYST-UPGRADE
| $56.71 $59.25 | ▲ +4.48% | ▲ +6.22% | $57.13 (+0.75%) |
|
Mar 25, 2026
11w ago
|
DEFA14A
| $59.39 $58.71 | ▼ −1.15% | ▼ −11.81% | $57.13 (−3.80%) |
|
Feb 26, 2026
15w ago
|
Court Ruling
| $61.08 $59.39 | ▼ −2.77% | ▲ +3.63% | $57.13 (−6.46%) |
US Market Status
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