Piper Sandler Raises Bristol Myers (BMY) PT to $66 Citing Pipeline Visibility

Bristol Myers Squibb Company (NYSE:BMY) is one of the most undervalued large cap stocks to invest in now. On January 28, Piper Sandler raised its price target for Bristol Myers to $66 from $62, keeping an Overweight rating. The firm noted that the stock remains undervalued, as current pricing largely accounts for the upcoming loss of exclusivity for Eliquis in the US while failing to reflect the improved visibility for a return to growth driven by steady pipeline progress.

A day before that, Citi analyst Geoff Meacham raised the firm’s price target on Bristol Myers to $60 from $53 with a Neutral rating as part of a Q4 2025 biopharma sector preview. Meacham suggested that beatable estimates and a reduction in policy risks have established a favorable setup for the group heading into 2026.

Earlier on January 13, Leerink analyst David Risinger raised the firm’s price target for Bristol Myers Squibb Company (NYSE:BMY) to $60 from $54 with an Outperform rating. The firm anticipates significant stock upside potential in 2026, driven by a robust pipeline that currently appears heavily discounted by the market. Following a company presentation on January 12, Leerink highlighted that Bristol Myers expects 12 registrational data readouts from eight distinct assets throughout 2026.

Bristol Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for oncology, hematology, immunology, cardiovascular, neuroscience, and other areas.

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.

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