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Fly News Breaks for December 29, 2017
BCR, BDX
Dec 29, 2017 | 05:19 EDT
Deutsche Bank analyst Kristen Stewart yesterday raised her price target for Becton Dickinson (BDX) to $260 after the Ministry of Commerce of the People's Republic of China approved the company's acquisition of C.R. Bard (BCR). With the acquisition, Becton further diversifies its revenue stream and enhances its overall growth profile, Stewart told investors in a research note. She sees Becton as a 5%-6% sales growth company with "natural leverage opportunities combined with merger synergies" that could drive mid-teens annual earnings growth for the next three years. The analyst reiterates a Buy rating on the shares.
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