Morgan Stanley downgrades Bristol-Myers Squibb on drug pipeline concern

The New York Stock Exchange welcomes Bristol Myers Squibb on Nov. 20th, 2020.

Uncertainty around drug developments could hold back the price of Bristol-Myers Squibb stock, according to Morgan Stanley.

Analyst David Risinger downgraded the stock to equal weight from overweight on Friday, saying the long-term picture for the company's earnings power was getting less positive.

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