DB Alex. Brown Keeps 'Neutral' on Bristol-Myers
Deutsche Banc Alex. Brown keeps it neutral rating on Bristol-Myers (BMY ).
Analyst Barbara Ryan says the inventory issue is not new. Had it been, she says she still does anticipate the company to guide down when it reports later this month. She thinks Bristol-Myers will cut guidance by about 10%. She notes she had downgraded the shares to neutral ahead of the disappointing Vanlev data announced on Mar. 20.