UPDATE: Morgan Stanley Upgrades Becton Dickinson to Equal-Weight on Margin, Organic Growth
Morgan Stanley raised its rating on Becton Dickinson (NYSE: BDX) from Underweight to Equal-weight and removed its price target of $68.
Morgan Stanley commented, "Upgrading BD to Equal-weight from Underweight. Organic growth and leverage are poised for a positive inflection after a two-year investment cycle. We are comfortable with valuation following 12% underperformance in 2012. To move to Overweight, we'd need better visibility on pipeline execution."
Becton Dickinson closed at $79.45 on Wednesday.
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