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Bristol-Myers Squibb (BMY) Stock Slides After Receiving 'Sell' Rating

NEW YORK (TheStreet) -- Bristol-Myers Squibb (BMY - Get Report) stock is retreating by 0.03% to $66.52 in early-morning trading on Thursday, after Societe Generale started coverage with a "sell" rating and $48 price target.

The pharmaceutical company's fundamentals will likely surprise to the downside, the firm wrote in a note this morning.

The market is being "irrationally exuberant" in extrapolating the company's Opdivo cancer drug's first-mover advantages in skin, lung and kidney cancers to most other types of tumors, Societe Generale contended.

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