Becton Dickinson price target raised to $305 from $290 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Becton Dickinson to $305 from $290 and keeps an Overweight rating on the shares after the company’s Alaris Infusion System received 510(k) clearance from the FDA. The clearance comes more than three years after Alaris was pulled from the market, and returns to commercial status a market-leading platform that adds an incremental $300M of high-margin revenue to Becton if sales return to their 2019 run rate, the analyst tells investors in a research note. The firm says the shares look likely to break above what’s been a multi-year trading range as the Alaris approval secures a higher probability for management to deliver at or above its fiscal 2025 financial targets.