Bristol Myers Squibb upgraded to "neutral"

11/19/07 - Cowen and Company

NEW YORK, November 19 (newratings.com) - Analysts at Cowen & Co upgrade Bristol Myers Squibb (BMY) to "neutral," while raising their estimates for the company.

In a research note published this morning, the analysts mention that the upgrade in the rating is based on the expected details about the company strategy and product pipeline. Bristol Myers Squibb is also expected to discuss its streamlining initiatives and product mix at the forthcoming analyst meet, besides conducting a review of its commercial operations, the analysts add. The EPS estimates for FY08 and FY09 have been raised from $1.65 to $1.70 and from $1.85 to $1.90.