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Fly News Breaks for February 6, 2020
Feb 6, 2020 | 16:40 EDT
Cowen analyst Joshua Jennings downgraded Becton Dickinson to Market Perform from Outperform with a price target of $275, down from $306. While management had recently said Alaris U.S. shipments returned in full during Q1, the company announced today it is continuing discussions with the FDA on an Alaris System software remediation plan, which now requires additional filings not previously anticipated and will result in lost sales in fiscal 2020, Jennings tells investors in a research note. The analyst moves to the sidelines citing Becton's lower sales growth profile in 2020 and uncertainty on the recovery path.
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