Company

Bank

Analyst

Coverage

Opinion

Wk chg

1/25 cls

Becton Dickinson and Co. (NYSE:BDX)

Mizuho

Peter Lawson

Downgrade

Neutral (from buy)

1%

$84.59

Lawson maintained his $87 target on the belief that Becton's stock is fairly valued. He said weak academic spending and growing diagnostic competition "temper upside to the model." He expects low single-digit organic growth over the next two years. He said Becton's life science research business has been a "drag on results for the past year," with no significant catalysts in the near-term. He lowered his 2014 EPS estimate to $6.16 from $6.30.