Citigroup Maintains Neutral, $79 Target on Becton, Dickinson & Co

Citigroup reiterates its Neutral rating and $79 target price on Becton, Dickinson & Company BDX as the company highlights upcoming headwinds that should affect growth for 2012. Citi notes, “The 3 headwinds that led BDX to widen its F2012 rev outlook range to 200 bps (+2-4%) vs. 100 bps historically are (1) weak healthcare utilization, (2) pull backs in research spending, and (3) weakness in Europe. BDX saw double-digit utilization declines through the summer with lower hospital acuity rates and shortening lengths of stay.” BDX closed at $71.52 per share on Wednesday.