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

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Why Leerink Is Upping Its Becton-Dickinson Target To $158
UBS Initiates Becton Dickinson With Neutral

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
Mar 2015Goldman SachsReinstatesNeutral
Mar 2015UBSInitiates Coverage onNeutral
Mar 2015JP MorganMaintainsOverweight

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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