UPDATE: Bank of America Lowers PT from $48 to $39 on Hill-Rom Holdings

Bank of America has published a report on Hill-Rom Holdings (NYSE: HRC) lowering the price target $9.

In the report, Bank of America wrote, "HRC has fallen 24% since the Q3 miss last week versus a 5% decline in medtech and a 3% decline in the S&P. While HRC only lowered 2011 guidance by a penny and reiterated their long-term guidance issued in May, the sell-off has been driven largely by the confusion around what caused the miss, whether the issues are temporary, and whether HRC can in fact achieve the double digit EPS growth outlined in their long-term guidance."

Bank of America rated Hill-Rom Holdings a BUY with a price target reduced from $48.00 to $39.00. Hill-Rom Holdings closed Wednesday at $33.21.