J.P. Morgan Reports Beckman Coulter May Be on the Sales Block

J.P. Morgan reports Beckman Coulter (NYSE: BEC) may be on the sales block.

In a note to clients, J.P. Morgan writes, "Multiple news sources, including Bloomberg, The Wall Street Journal, and The New York Times, are reporting that Beckman Coulter is actively exploring a sale, having been approached by several strategic buyers and equity firms in recent months. Were it to happen, we expect the process could take several months, although with generally negative sentiment (and high short interest), we expect the stock to rally significantly on the news. In the meantime, we are raising our Dec 2011 price target from $62 to $74, which is 10x EV/EBITDA-lease cap ex."

J.P. Morgan remains Overweight on BEC.

BEC closed yesterday at $57.09.