C.R. Bard Inc. (BCR): Good Results But Valuation Too High For Upgrade - UBS

C.R. Bard Inc. (NYSE: BCR)
Jefferies analyst, Raj Denhoy, maintained his Hold rating on C.R. Bard, Inc. (NYSE: BCR) but raised the price target to $237.00 (from $215.00). The company beat expectations by $17mn/$0.07 and raised 2016 top-line guidance by 75bps at midpoint to 8-9% ex-FX growth (6.5%-7.0% organic), keeping it at the upper end of large cap peers. Underlying growth is being driven by a mix of legacy products, acquired businesses, Lutonix, as well as underlying US procedure volumes. The Bard formula continues to deliver above peer results, and looks poised to continue into 2H.

The analyst increased estimates and the PT but valuation kept his rating at Hold.

For an analyst ratings summary and ratings history on C.R. Bard, Inc. click here. For more ratings news on C.R. Bard, Inc. click here.

Shares of C.R. Bard, Inc. closed at $231.47 yesterday.

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Intuitive Surgical (ISRG) PT Raised to $375 at Jefferies
• Discover Financial (DFS) PT Raised to $145 at Jefferies