UPDATE: Citigroup Reduces PT to $77 on Becton, Dickinson and Company on Headwinds to Outlook
Citigroup reiterated its Neutral rating on Becton, Dickinson and Company (NYSE: BDX) and reduced its price target from $78 to $77.
Citigroup noted, "The macro environment continues to remain volatile with end markets and Europe little improved, healthcare utilization and pricing remaining headwinds, and headline slowing emerging market growth a near-term overhang. However, new product roll-outs with the BD Insyte Autoguard, BD Nexiva with diffusion tip, and BD Mosaic hMSC Cell Culture Medium should provide some growth opportunities, while operating improvements with ReLoCo and ReKindle add leverage to the bottom line. F2H12 margins are expected to improve over F1H12, so F3Q results should begin to show some expansion."
Becton, Dickinson and Company closed at $74.79 on Friday.
Latest Ratings for BDX
|Oct 2014||Bank of America||Maintains||Neutral|
|Oct 2014||Canaccord Genuity||Maintains||Hold|
|Oct 2014||Argus Research||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.