Auriga Upgrades Waters Corp. (WAT) to Buy; Calmer Waters Ahead? We Think So
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Price: $412.17 -0.32%
Rating Summary:
22 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga upgraded Waters Corp. (NYSE: WAT) to Buy with a price target of $103.00.
Auriga analyst says, "The combination of disappointing 2Q11 results and the recent market turmoil has pulled down Waters shares. Previously, WAT's premium valuation pushed us to the sidelines (a bit too early perhaps), but the recent pull back has created an opening to own arguably one of the more interesting franchises in the tools space. Importantly, WAT is in the midst of a multi-quarter product upgrade cycle in both liquid chromatography (LC) and mass spectrometry (MS), which combined with steady end market demand, should make the current outlook achievable. While we are watching the current economic environment with a wary eye, we believe WAT's refreshed product portfolio (three new products shipping in September), consumable revenue stream (~16% of sales) and emerging market exposure (~30%) provide a buffer to potential headwinds."
For more ratings news on Waters Corp. click here and for the rating history of Waters Corp. click here.
Shares of Waters Corp. closed at $78.89 yesterday.
Auriga analyst says, "The combination of disappointing 2Q11 results and the recent market turmoil has pulled down Waters shares. Previously, WAT's premium valuation pushed us to the sidelines (a bit too early perhaps), but the recent pull back has created an opening to own arguably one of the more interesting franchises in the tools space. Importantly, WAT is in the midst of a multi-quarter product upgrade cycle in both liquid chromatography (LC) and mass spectrometry (MS), which combined with steady end market demand, should make the current outlook achievable. While we are watching the current economic environment with a wary eye, we believe WAT's refreshed product portfolio (three new products shipping in September), consumable revenue stream (~16% of sales) and emerging market exposure (~30%) provide a buffer to potential headwinds."
For more ratings news on Waters Corp. click here and for the rating history of Waters Corp. click here.
Shares of Waters Corp. closed at $78.89 yesterday.
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