UPDATE: J.P. Morgan Lowers Price Target on C.R. Bard to $92

According to J.P. Morgan, C.R. Bard (NYSE: BCR) price target is lowered to $92.

J.P. Morgan said that Bard hosted its annual Investor meeting Tuesday night, providing a detailed update on its pipeline and issuing 2012 guidance for the first time. “Still, we applaud the deal as a meaningful upgrade to Bard's Vascular pipeline, putting the company in a position to be first to market (2015E US) with what could be $1B+ market opportunity.”

C.R. Bard closed yesterday at $87.78.