Bristol-Myers Squibb Company (NYSE:BMY) is among the 10 Best Affordable Stocks Under $50 to Buy. Cantor Fitzgerald reduced its price target for BMY from $55 to $45, citing a top-line beat supported by legacy products and favorable foreign exchange impacts.

Investors are advised to focus on upcoming results from the Cobenfy ADEPT-2 study. Cantor Fitzgerald sees balanced risks around ADEPT-2, with potential stock price increases to $52-$54 if positive and decreases to $38-$40 if negative.

Recent clinical setbacks and concerns about long-term growth outlook led Cantor Fitzgerald to cut Bristol-Myers Squibb Company’s price target. The firm also believes that the company will likely need mergers and acquisitions for business support.

Bristol-Myers Squibb Company is an American multinational pharmaceutical company focused on innovative medicines for serious diseases. While BMY has potential as an investment, certain AI stocks offer greater upside potential and less downside risk, according to Cantor Fitzgerald.

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Read more at Yahoo Finance: Cantor Fitzgerald Cuts Bristol-Myers (BMY) Price Target, Keeps Neutral