UPDATE: Stifel Nicolaus Initiates C.R. Bard at Hold on Slower Growth

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Stifel Nicolaus initiated coverage on C.R. Bard (NYSE: BCR) with a Hold rating. Stifel Nicolaus noted, "We are initiating coverage of C.R. Bard, Inc. (BCR) with a Hold rating on the shares. The sluggish US and EU procedure environment has turned into a growth headwind for Bard, pushing organic growth rates steadily lower in recent quarters. Still, with the positive potential of the W.L. Gore litigation settlement -- expected in 2013, Bard should see a one-time sharp EPS step-up, gaining meaningful additional flexibility for reinvestment. We think the one-time benefit is amply reflected in the current stock price."C.R. Bard closed at $95.78 on Monday.

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