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Becton Dickinson downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Jason Bednar downgraded Becton Dickinson (BDX) to Neutral from Overweight with a price target of $185, down from $260. The firm says its “patience has fully worn out” on the company’s “checkered execution path” for organic revenue. Piper’s confidence has eroded in management’s demand forecasting ability. Becton’s fiscal Q2 saw nearly every segment revenue line miss expectatoins on an organic growth basis, the analyst tells investors in a research note. Piper “can no longer justifiably defend” that the company’s guidance is achievable.

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