RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
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RBC Capital reiterated a Sector Perform rating on Danaher (NYSE: DHR), and raised the price target to $86.00 (from $85.00), following the company's 3Q earnings report. Danaher reported a 3c cash EPS beat driven at the operating line and boosted its 2016 guidance range entirely above consensus expectations. The company’s upside results produced a nice +3.9% stock reaction on Oct-20. That said, the company has announced ~$4.8 bil of M&A in the past three months, comprised of Cepheid and Phenomenex.
Analyst Deane Dray commented, "Consistent with our preview expectations, Sector Performrated Danaher looks to be a relatively “safe place to hide” heading into year-end. Its first post-Fortive quarter featured a clean beat and raise above consensus. Every segment posted 3% organic growth or better, with exceptional FCF conversion. We believe the shares have more appeal in a risk-off market, and we will be gauging our entry point on this measure."
Shares of Danaher closed at $80.18 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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