Jefferies Cuts Price Target on Waters Corp. (WAT) Following Revenue Miss
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies maintained a Hold rating on Waters Corp. (NYSE: WAT), and cut the price target to $145.00 (from $150.00), following the company's 3Q earnings report. EPS of $1.57 matched the consensus view as marginally better profitability offset weaker core revenue growth. Core revenue growth of +5% was ~100bps weaker than expected.
Analyst Brandon Couillard commented, "3Q16 revenues missed for the first time in >2 yrs, snapping a long period of consecutive beat/raise prints, as core growth came in ~100bps below expectations on materially weaker gov't/academic demand. With limited visibility to an improvement in either academic or industrial demand, 2017 leans more heavily on biopharma. Despite the pullback, we continue to view the risk/reward as balanced."
Shares of Waters Corp. closed at $138.60 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q
- Jefferies Adjusts Estimates on Ciena (CIEN) - PT to $29
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!