Wells downgrades Becton Dickinson to Equal Weight after guidance cut

As previously reported, Wells Fargo downgraded Becton Dickinson (BDX) to Equal Weight from Overweight with a price target of $172, down from $270, after “another guidance reduction.” While the valuation “seems attractive” and the second half outlook is “encouraging,” the firm lacks conviction in the growth acceleration and wants to see more consistent execution to gain more confidence in the outlook, the analyst tells investors.