UPDATE: Jefferies Raises PT on Becton, Dickinson and Co. on Compelling Secular Growth Story

In a report published Thursday, Jefferies analyst Jon Wood reiterated a Buy rating on Becton, Dickinson and Co.

, and raised the price target from $96.00 to $107.00. In the report, Wood noted, “BDX's foray into the generic prefilled injectable drug arena adds a new compelling secular growth story to the investment thesis. With its main competitor enduring chronic manufacturing / QC issues, BDX's ability to leverage its hospital channel presence should help stimulate initial uptake. We are raising our FY14 EPS forecast to $6.25 (from $6.20). Our PT moves to $107 (from $96) on higher intermediate-term cash flow forecasts.” Becton, Dickinson and Co. closed on Wednesday at $95.16.