Raymond James Downgrades Danaher (DHR) to Market Perform

Raymond James analyst Andrew Cooper downgraded Danaher (NYSE: DHR) from Outperform to Market Perform.

The analyst comments: "We are downgrading Danaher/DHR to Market Perform from Outperform as the outlook looks murkier post 4Q, potentially making it easier for funds to flow in elsewhere (including TMO, as discussed below) in the intermediate-term. In short, what was viewed as a higher value portfolio capable of generating leading growth is guided lower than the peers we cover and, in our view, offered a tone that was less encouraging. We continue to think the portfolio is one of the most attractive into out-years, but a substantial valuation premium becomes harder to justify if growth is slower and confidence on the longer-term algorithm is somewhat in flux in the immediate-term. We found ourselves struggling for satisfactory answers to the key questions below."

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 $222.74 yesterday.

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