Loading...
Loading...
In a report published Wednesday, Goldman Sachs analyst David H. Roman upgraded the rating on
C.R. BardBCR from Sell to Neutral, and raised the price target from $106.00 to $132.00.
In the report, Goldman Sachs noted, “We upgrade shares of C.R. Bard (BCR) from Sell to Neutral. Simply put, the elements driving our Sell thesis are getting resolved. Organic growth has ticked up the past two quarters and, more importantly, the company looks to have sustainable new growth drivers (Lutonix drug coated balloon) that have been de-risked with newly released clinical data. Improved growth and pipeline launches should also drive improving margins (we forecast 450bp of EBIT expansion 2013E-2016E). Since being added to the Americas Sell List (2/22/2013), BCR is +28% vs. the S&P 500 +17% given a faster turnaround in growth.”
C.R. Bard closed on Tuesday at $126.96.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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!
Already a member?Sign in