Goldman Sachs Upgrades CareFusion (CFN) to Neutral

Goldman Sachs upgraded CareFusion (NYSE: CFN) from Sell to Neutral with a price target of $40.00 (from $37.00) saying they see post Q3 EPS guidance presenting a more realistic set of expectation.

Analyst David Roman said, "While 3Q14 results missed consensus and GSe, the company provided very specific disclosure around orders and back log that provide clarity into the forward outlook (supported by Q4-to-date results). In addition, we see capital deployment activity coming into view in the next several months. With new targets and further detail on business trends, we no longer see a path for underperformance."

The firm bumped FY 2014 EPS from $2.28 to $2.29, FY 2015 EPS from $2.49 to $2.57 and FY 2016 EPS from $2.68 to $2.79.

For an analyst ratings summary and ratings history on CareFusion click here. For more ratings news on CareFusion click here.

Shares of CareFusion closed at $39.39 yesterday.

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