Goldman Sachs Downgrades C.R. Bard, Inc. (BCR) to Sell
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Price: $107.41 +0.71%
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade BCR Now!
Goldman Sachs downgraded C.R. Bard, Inc. (NYSE: BCR) from Neutral to Sell with a price target of $95.00 (from $99.00) on near-term risk as company is in transition.
The firm said C.R. Bard is once again in transition as it embarks on a new corporate R&D strategy and looks for vehicles to accelerate growth. While Goldman is positive on lauds the company's proactive approach to address end-user market challenges, "at this point, however, we think the market and Street numbers already give Bard sufficient credit that this strategy will prove successful, and we do not think there is sufficient evidence to corroborate this view, and our forecasts for 2014 and 2015 are below consensus and management targets."
The firm trimmed FY13 EPS from $6.29 to $6.28, FY14 from $7.66 to $7.50 and FY14 from $8.55 to $8.26.
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 $99.01 yesterday, with a 52 week range of $91.91-$108.31.
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The firm said C.R. Bard is once again in transition as it embarks on a new corporate R&D strategy and looks for vehicles to accelerate growth. While Goldman is positive on lauds the company's proactive approach to address end-user market challenges, "at this point, however, we think the market and Street numbers already give Bard sufficient credit that this strategy will prove successful, and we do not think there is sufficient evidence to corroborate this view, and our forecasts for 2014 and 2015 are below consensus and management targets."
The firm trimmed FY13 EPS from $6.29 to $6.28, FY14 from $7.66 to $7.50 and FY14 from $8.55 to $8.26.
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 $99.01 yesterday, with a 52 week range of $91.91-$108.31.
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*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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