Leerink Partners Resumes Waters Corp. (WAT) at Outperform

November 10, 2016 6:44 AM EST
Get Alerts WAT Hot Sheet
Price: $136.67 -1.59%

Rating Summary:
    9 Buy, 18 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
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Leerink Partners resumes coverage on Waters Corp. (NYSE: WAT) with a Outperform rating and a price target of $163.00.

Analyst Puneet Souda commented, "We view Waters positively and believe that: (1) Growth in biopharma end-markets is likely to continue, extending the business cycle and further strengthening WAT’s already established presence in biopharma QA/QC labs; (2) WAT will continue to garner premium pricing in the LC (Liquid Chromatography) market given what we view as best-in-class UPLC (Ultra Performance LC) system with 70%+ mass spec attach rates -– the highest in the industry; (3) China shows no signs of taking a break as it continues to deliver double-digit growth driven by demand in pharma, food and environmental/ industrial testing labs; and (4) underlying strength of Waters’ recurring revenue base (almost 50% of WAT’s revenue) remains sticky as biopharma QA/QC labs are generally not amenable to change."

For an analyst ratings summary and ratings history on Waters Corp. click here. For more ratings news on Waters Corp. click here.

Shares of Waters Corp. closed at $142.38 yesterday.



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