Nomura Securities Maintains a 'Buy' on Danaher (DHR); Meeting With Management
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Price: $202.45 -0.71%
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
30 Buy, 10 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Danaher (NYSE: DHR).
Nomura analyst, Shannon O'Callaghan, said, "Post meetings with mgmt our confidence is building that the market’s assessment of Danaher’s Beckman acquisition will become increasingly positive as the deal closes and understanding improves in 2011. As we move through 2011, we think the focus will shift from the low multiple Med Tech sector to Danaher’s ability to get a valuable asset with a lot of DBS potential at an attractive multiple. As the industrial cycle matures, the 8x EBITDA Beckman deal (with plenty of synergy potential) could look like a wise contrarian move that took place at a time when industrial deals were being chased at robust double-digit EBITDA multiples. We maintain our $60 PT (19x 2012 estimate which excludes Beckman accretion)."
For more ratings news on Danaher click here and for the rating history of Danaher click here.
Shares of Danaher closed at $55.27 yesterday.
Nomura analyst, Shannon O'Callaghan, said, "Post meetings with mgmt our confidence is building that the market’s assessment of Danaher’s Beckman acquisition will become increasingly positive as the deal closes and understanding improves in 2011. As we move through 2011, we think the focus will shift from the low multiple Med Tech sector to Danaher’s ability to get a valuable asset with a lot of DBS potential at an attractive multiple. As the industrial cycle matures, the 8x EBITDA Beckman deal (with plenty of synergy potential) could look like a wise contrarian move that took place at a time when industrial deals were being chased at robust double-digit EBITDA multiples. We maintain our $60 PT (19x 2012 estimate which excludes Beckman accretion)."
For more ratings news on Danaher click here and for the rating history of Danaher click here.
Shares of Danaher closed at $55.27 yesterday.
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