Becton Dickinson resumed with a Buy at Citi

Citi resumed coverage of Becton Dickinson (BDX) with a Buy rating and $233 price target. Becton Dickinson’s sale of its LifeSciences Bioprocessing segment to Waters Corp (WAT), closing February 9, 2026, creates a pure-play MedTech company that still participates in Medical Essential, Connected Care, Biopharma Systems, and Interventional, the analyst tells investors in a research note. Spin-outs generally create a more focused company, freeing the parent to deliver faster, more consistent growth, and this should be true for Becton Dickinson, the firm added.