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UPDATE: Bank of America Merrill Lynch Reinstates Coverage on Becton, Dickinson and Co.

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Benzinga's Top Upgrades
JP Morgan Upgrades Becton, Dickinson To Overweight

In a report published Monday, Bank of America Merrill Lynch reinstated coverage on Becton, Dickinson and Co. (NYSE: BDX) with an Underperform rating and $79.00 price target.

BofA Merrill Lynch noted, “After several years of pricing and margin pressure, we believe that BD can now deliver sustainable lowsingle digit organic revenue growth and modest margin expansion. However, as our organic revenue and EPS growth forecasts are well below historical levels, it is difficult to argue for further P/E multiple expansion. As such, we believe that BDX shares may underperform relative to peers, but note that the more defensive nature of the business likely offers downside protection.”

Becton, Dickinson and Co. closed on Friday at $77.72.

Latest Ratings for BDX

DateFirmActionFromTo
Nov 2014Deutsche BankMaintainsHold
Nov 2014JP MorganUpgradesNeutralOverweight
Nov 2014Bank of AmericaMaintainsNeutral

View More Analyst Ratings for BDX
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Initiation Analyst Ratings

 

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