CYH - Bristol-Myers cut to neutral at Morgan Stanly noting an 'uninspired' pipeline Community Health upgraded after Q1 results; and more in today's analyst action

Bristol-Myers and Community Health Systems have seen their rating changed after reporting two contrasting performances with their Q1 financials. Today’s analyst action also includes a few initiations.Bristol-Myers downgraded at Morgan Stanley; says uninspired by the pipelineBristol-Myers Squibb (BMY) Q1 2021 financials missed the Street forecasts yesterday. Today the company has lost 1.4% in the pre-market after Morgan Stanly cut its rating to equal-weight from overweight.The price target lowered to $62.00 from $70.00 per share implies ~1.4% downside to the last close.Noting that they are ‘uninspired’ by the company’s pipeline, the analyst David Risinger and the team say they have ‘less conviction’ for it to drive further upside in the stock which according to them offers a ‘balanced risk-reward profile.’However, Seeking Alpha contributor Ray Merola is ‘very bullish’ on Bristol-Myers and calls the slide in shares following the Q1 2021 data ‘a grand over-reaction.’Amgen continues the downtrend after analyst view Q1 results as underwhelming Another pharma giant, Amgen

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Bristol-Myers cut to neutral at Morgan Stanly noting an ‘uninspired’ pipeline, Community Health upgraded after Q1 results; and more in today’s analyst action