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UPDATE: Stifel Nicolaus Raises PT to $33 on CareFusion Corporation on Margin Expansion

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Stifel Nicolaus maintained CareFusion Corporation (NYSE: CFN) with a Buy rating and raised the price target from $33.00 to $37.00.

Stifel Nicolaus said, "Despite a shortfall in Dispensing (Pyxis) sales, CFN reported a solid quarter with some hard evidence that management's initiatives to improve revenue growth and drive operating efficiencies are starting to yield results. … But, in F3Q13, we project a y/y sales and EPS decline, due to the shifting of dispensing revenues into FY2014 (as the new Pyxis ES system launches) and off unusually difficult y/y Medical Systems comps. To us, all this sets the stage for what could be accelerated top and bottom line growth in FY2014, helped by a rebound in Dispensing, less negative than previously expected Infusion pump pricing, sustained growth in Procedural Solutions and continued efficiency measures."

CareFusion Corporation closed at $31.83 on Thursday.

Posted-In: Stifel NicolausAnalyst Color Price Target Analyst Ratings


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