UPDATE: Piper Jaffray Upgrades C.R. Bard on Improving Organic Growth Profile, PVD Market Exposure

In a report published Wednesday, Piper Jaffray analyst Brooks E. West upgraded the rating on C.R. Bard BCR from Neutral to Overweight, and raised the price target from $114.00 to $140.00. In the report, Piper Jaffray noted, “We are upgrading Bard to Overweight and raising our PT to $140 from $114. Our upgrade is based on improving market fundamentals, which are further aiding product/geography mix driven growth. We also view BCR as the purest large cap play in the peripheral vascular market which, as recently highlighted at our 2013 Heartland Summit, we see presenting medtech opportunities not seen since the pre-DES coronary heart disease market in terms of global disease prevalence and relative under treatment. We view FY14-15 consensus estimates as conservative with the potential for mid-single digit organic revenue growth by FY15 and double-digit EPS growth. This positions BCR as one of the premier growth stories in large cap medtech with the added safety of a diverse product offering.” C.R. Bard closed on Tuesday at $126.96.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesAnalyst RatingsBrooks E. WestPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!