Scotiabank Raises Bristol-Myers (BMY) PT to $60 Citing Catalyst-Rich 2026 Growth

Bristol-Myers Squibb Company (NYSE:BMY) is one of the cheap stocks to buy for the next 3 years. On January 9, Scotiabank analyst Louise Chen raised the firm’s price target on Bristol-Myers to $60 from $53, while maintaining a Sector Perform rating on the shares. With the stock trading at an inexpensive valuation and several key milestones on the horizon, the firm views the upcoming catalyst-rich year as a strong buying opportunity.

In other news, on December 11, the FDA granted Priority Review to Bristol-Myers Squibb Company’s (NYSE:BMY) supplemental application for Opdivo (nivolumab) combined with AVD chemotherapy. The potential new frontline treatment is for adult and pediatric patients (12+) with Stage III or IV classical Hodgkin Lymphoma. The target action date/PDUFA is set for April 8, 2026.

The application is supported by the Phase 3 SWOG S1826 study, which showed that the Opdivo-AVD regimen significantly improved progression-free survival/PFS compared to the current standard. At a 2.1-year median follow-up, the PFS rate for the Opdivo arm was 92% versus 83% for the control group, with an even more pronounced benefit observed in patients over age 60.

Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.

While we acknowledge the potential of BMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.