Jefferies Initiates BCR At Buy

Jefferies has initiated coverage of C.R. Bard BCR at Buy. According to Jefferies, "BCR continues to execute soundly in the face of persistent and challenging headwinds and we see the top-end of 2011 guidance as achievable. BCR is well-managed, diverse in products, generates solid FCF and industry-leading ROIC, and boasts market leadership across each of its segments, all of which lend support to a premium valuation. As such, we are initiating coverage of BCR shares with a Buy rating and 12-month price target of $115." BCR traded at $99.36 at closing yesterday.