UPDATE: Morgan Stanley Upgrades Becton Dickinson to Equal-Weight on Margin, Organic Growth

Morgan Stanley raised its rating on Becton Dickinson

from Underweight to Equal-weight and removed its price target of $68. Morgan Stanley commented, "Upgrading BD to Equal-weight from Underweight. Organic growth and leverage are poised for a positive inflection after a two-year investment cycle. We are comfortable with valuation following 12% underperformance in 2012. To move to Overweight, we'd need better visibility on pipeline execution." Becton Dickinson closed at $79.45 on Wednesday.