Wells Fargo Downgrades Waters Corp. (WAT) to Market Perform

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Wells Fargo downgraded Waters Corp. (NYSE: WAT) from Outperform to Market Perform while maintaining a $90-$95 valuation range, citing valuation.

At a NTM P/E of approx. 17x, the stock now trades slightly above its long-term average multiple of 16x, the firm notes.

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 $90.56 yesterday, with a 52 week range of $74.12-$94.47.

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