RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report

October 21, 2016 9:56 AM EDT
Get Alerts DHR Hot Sheet
Price: $80.53 -0.09%

Rating Summary:
    20 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

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

Shares of Danaher closed at $80.18 yesterday.

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