Piper Jaffray Upgrades C.R. Bard (BCR) to Neutral; Valuation Call
BCR Hot Sheet
Rating Summary:3 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Piper Jaffray upgrades C.R. Bard (NYSE: BCR) from Underweight to Neutral. Price target increased from $71 to $85.
Given our early January increase in confidence of the overall medtech sector, the delayed/dead Reform constraints, and higher peer valuations, we are raising our relative rating on BCR from UW to N. This brings BCR inline with our other ratings as medtech prices have re-adjusted in the last several weeks...Importantly, there were no changes to 2010 revenue and earnings guidance during the conference call. We think that with the economy still uncertain, BCR's new 5-year plan just commencing, and with BCR's stock price settled into a $78-$82/share near-term comfort zone, Bard mgmt sticking with its re-investment strategy and guidance makes sense to us."
To see all the upgrades/downgrades on shares of BCR, visit our Analyst Ratings page.
C. R. Bard, Inc. (Bard) is engaged in the design, manufacture, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices.
Given our early January increase in confidence of the overall medtech sector, the delayed/dead Reform constraints, and higher peer valuations, we are raising our relative rating on BCR from UW to N. This brings BCR inline with our other ratings as medtech prices have re-adjusted in the last several weeks...Importantly, there were no changes to 2010 revenue and earnings guidance during the conference call. We think that with the economy still uncertain, BCR's new 5-year plan just commencing, and with BCR's stock price settled into a $78-$82/share near-term comfort zone, Bard mgmt sticking with its re-investment strategy and guidance makes sense to us."
To see all the upgrades/downgrades on shares of BCR, visit our Analyst Ratings page.
C. R. Bard, Inc. (Bard) is engaged in the design, manufacture, packaging, distribution and sale of medical, surgical, diagnostic and patient care devices.
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