UPDATE: Goldman Sachs Initiates Coverage on Pall Corp, In-Line Performance Expected

In a report published Tuesday, Goldman Sachs analyst Isaac Ro initiated a Neutral rating on Pall Corporation (NYSE: PLL) and initiated a price target of $80.00.

In the report, Goldman Sachs says "We initiate coverage of Pall Corp (PLL) with a Neutral rating and a 12- month price target of $80 that implies 3% downside vs. our Life Science Tools (LST) coverage median of 3%. We believe PLL shares will perform in line with our LST coverage as (1) long-term growth opportunities in filtration are fairly captured by consensus, (2) cyclical trends appear mixed, (3) the path to improved margins is likely to become more difficult, and (4) valuation implies a balanced risk/reward."

Pall closed on Tuesday at $82.16.