Evercore ISI Starts C.R. Bard, Inc. (BCR) at Buy
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Evercore ISI initiates coverage on C.R. Bard, Inc. (NYSE: BCR) with a Buy rating and a price target of $235.00.
Analyst Vijay Kumar commented, "The crux of thesis is that BCR is a high quality compounder within the Medical Device universe (above peer organic growth, consistent >100% free cash conversion and high ROIC), and expect the company to continue to maintain its multiple premium to S&P500 given its +5% organic visibility in the medium term (multiples have been correlated with organic rev growth vs. EPS & ROIC levels). While we acknowledge that Medtech multiples are stretched above their 5 year historical range, we believe that quality assets with sustainable growth will continue to outperform peers on a relative basis."
Shares of C.R. Bard, Inc. closed at $216.91 yesterday.
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