UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Lowers PT on C.R. Bard

In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on C.R. Bard

, but lowered its price target from $102.00 to $99.00. BMO Capital Markets noted, “Management is embarking on an impressive strategic plan, which should bear fruit over time. Near term, we believe the 2013 EPS guidance will disappoint, the level of investment ramp will seem daunting, and investment ahead of an actual win will be questioned. Should this be pulled off, BCR may once again be a high-quality revenue and EPS growth company, and we commend management in taking the difficult first step.” C.R. Bard closed on Thursday at $102.07.