Wedbush Reduces PT to $60 on Pall Corporation Due to Outlook

Wedbush reiterates its Neutral rating on Pall Corporation PLL but cuts its price target from $64 to $60. Wedbush says, "The disappointing quarter underscores the structural work ahead for Pall's new management, while global uncertainty creates some headwinds. Although adjusted earnings from continuing operations of $0.61 were $0.09 below our estimate, we believe the longterm fundamentals of PLL's business are healthy, while the next six months are likely to be below prior expectations." PLL closed at $52.35 on Monday.