UPDATE: Citigroup Raises PT on C.R. Bard on Adjusted BCR Estimates

In a report published Monday, Citigroup analyst Matthew J. Dodds reiterated a Neutral rating on C.R. Bard BCR, and raised the price target from $123.00 to $124.00. In the report, Citigroup noted, “We are adjusting our BCR estimates to reflect the continued delay in the Gore court decision and the completion of the Medafor acquisition. We are now assuming a Gore royalty start in 1Q14 and expect the Medafor acquisition to be slightly EPS accretive in 2014. For 3Q13, we have raised our Soft Tissue Repair estimates due to the full US release of Phasix resorbable mesh.” C.R. Bard closed on Friday at $119.08.