Goldman Sachs Raises Bristol-Myers (BMY) Target, Keeps Neutral Rating

Bristol-Myers Squibb Company (NYSE:BMY) is included among the 14 Best Pharma Dividend Stocks to Buy in 2026.

On December 15, Goldman Sachs raised the firm’s price target on Bristol-Myers Squibb Company (NYSE:BMY) to $57 from $51 and kept a Neutral rating on the shares.

Bristol-Myers Squibb Company (NYSE:BMY) presents a measured balance between risk and reward. The stock offers a 4.6% dividend yield, and the payout ratio sits near 85%. That still leaves some flexibility to support the dividend, even as pressures build.

The company is dealing with a patent cliff. That risk is well known, and the management has responded with a series of acquisitions aimed at strengthening the pipeline and spreading exposure across more target markets. It is not a perfect fix, but it adds depth at a critical time.

Bristol-Myers Squibb Company (NYSE:BMY) develops and sells medicines across cardiovascular disease, immune disorders, and oncology. Its commercial portfolio is split into two groups. “Growth” drugs have several years of patent protection remaining, while “legacy” products are nearing the patent cliff or have already lost exclusivity.

There are major products in both buckets. The growth portfolio is led by the cancer treatment Opdivo. In the legacy group, Eliquis remains the top seller for now, even as competition edges closer. Lately, growth drugs have been doing the heavy lifting. In the third quarter, sales in this category rose 18% year over year to $6.9 billion. That strength helped offset a 12% decline in legacy revenue and pushed total revenue up 3% to $12.2 billion.

Bristol-Myers Squibb Company (NYSE:BMY) continues to position itself as a global biopharmaceutical company focused on discovering, developing, and delivering innovative medicines for patients with serious illnesses.

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Disclosure: None.