Goldman Sachs Lowers PT on Hospira to $59 (HSP)

Goldman Sachs is out with its report on Hospira HSP, lowering its price target from $65 to $59. In a note to clients, Goldman Sachs writes, "Following Hospira's 4Q2010, we lower EPS forecasts for 2011-2014 to $3.93/$4.53/$5.06/$5.52 from $4.32/$5.01/$5.60/$6.07 on the basis of lower revenues and EBIT margins. Following earnings (Hospira missed consensus EPS by $0.16, 17%), HSP sold off 7.3% vs. the S&P 500 down 0.3%, as EPS guidance came in about 7%-9% below Street consensus. We are lowering our 12-month price target (based on P/E and DCF blended with GS M&A framework) to $59 from $65 due to lower EPS estimates." Shares of HSP closed yesterday at $51.05, down 7.27% from Tuesday's close.