UPDATE: Piper Jaffray Raises PT on Hill-Rom Holdings to $46

Piper Jaffray is out with its report today on Hill-Rom Holdings (NYSE: HRC), raising its PT from $44 to $46.

In its report, Piper Jaffray writes, "With a solid quarter and guidance that contemplates the macro risks facing Europe, the stock is well-positioned to perform from current levels, which remains down 26% since June 30. We reiterate our Overweight rating on HRC, upping our target from $44 to $46."

Shares of HRC closed Thursday at $34.28, up 2.67% from Wednesday's close.