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UPDATE: Stifel Nicolaus Initiates CareFusion at Buy on Post-Spin Transformation Outlook

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Stifel Nicolaus initiated coverage on CareFusion (NYSE: CFN) with a Buy rating and a $33 price target.

Stifel Nicolaus commented, "We are initiating coverage of CareFusion Corp. (CFN) with a Buy rating and $33 target price, reflecting a 13x multiple on CY14E EPS of $2.54 (excluding amortization). CFN remains in the early innings of a compelling multi-year margin expansion and EPS growth acceleration story. Importantly, CFN's margin expansion is not solely predicated on revenue growth acceleration, but also internally driven cost reduction and business realignment initiatives. We view CFN shares as inexpensive relative to industry valuation averages."

CareFusion closed at $26.77 on Monday.

Latest Ratings for CFN

DateFirmActionFromTo
Oct 2014Raymond JamesDowngradesStrong BuyMarket Perform
Oct 2014JP MorganDowngradesOverweightNeutral
Oct 2014Piper JaffrayDowngradesOverweightNeutral

View More Analyst Ratings for CFN
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings

 

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