Bristol-Myers Squibb Co (NYSE:BMY) on Friday reported upbeat second-quarter results.

The report came amid an exciting earnings season. Here are some key analyst takeaways.

Barclays On Bristol-Myers Squibb

Analyst Carter Gould downgraded the rating to Underweight, while maintaining the price target at $41.

Gould explained the downgrade, stating that the recent rally in Bristol-Myers Squibb's stock, "despite little movement in underlying post-2025 fundamentals," appears to be "an over-reaction to the IRA news."

The company second-quarter beat was "at best mixed, if not low-quality – driven by legacy products and stocking dynamics," the analyst stated. Bristol-Myers Squibb's persistent broader challenge remains the same, which is "eroding top-line and EPS post-2026 with lack of visibility on when and where that trend will stop," he further wrote.

Check out other analyst stock ratings.

Goldman Sachs On Bristol-Myers Squibb

Analyst Chris Shibutani reiterated a Buy rating, while raising the price target from $55 to $57.

The rally in Bristol-Myers Squibb's stock was due to a "satisfying mix of company specific factors – including a better mix of operational achievements and a more reassuring tone with which uncertainties impacting the forward outlook were discussed," Shibutani said. The company's revenue beats came from "a cadre of newer launch products, less so from the mature portfolio," he added.

"The guidance raise messages less uncertainty, as the boundaries of mature product decline scenarios seem increasingly better understood," the analyst wrote. "Certain growth product (Camzyos, Reblozyl, Breyanzi) continue to demonstrate outperformance potential over the intermediate/longer term," he further stated.

BMY Price Action: Shares of Bristol-Myers Squibb were up 0.56% to $50.73 at the time of publication on Monday.

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