UPDATE: Bank of America Raises PT on Pall Corporation Following Fiscal 3Q13 Preview

In a report published Wednesday, Bank of America analyst Derik de Bruin reiterated a Neutral rating on Pall Corporation PLL, and raised the price target from $70.00 to $74.00.

In the report, Bank of America noted, “Pall Corp is a global leader in the filtration market and enjoys attractive end markets, a strong consumable stream, non-discretionary products, and high barriers to entry. While the fundamentals of the business are strong and early restructuring activities have been promising, shares now trade at a premium to most peers. As such, until organic growth accelerates, which may be difficult in the near term due to macro uncertainty, further multiple expansion is difficult to justify.”

Pall Corporation closed on Tuesday at $71.48.