Nomura Securities Maintains a 'Buy' on Danaher (DHR); Beckman Upside a Highlight of 2012 Outlook

Nomura Securities maintains a 'Buy' on Danaher (NYSE: DHR) price target raised from $56 to $59.

Analyst, Shannon O'Callaghan, said, "We have noted that initial investor reaction to Beckman has been lukewarm. The 2012 outlook should help to change that as Danaher revealed that Beckman is two years ahead of its cost plan and will achieve its 2014 cost savings target of $250M in 2012 (2014 target boosted to $350M), and will now be $0.32-$0.37 accretive in 2012 vs. prior $0.25-$0.30 guidance. At the mid-pt, Beckman will now offer $0.26 of incremental accretion in 2012. When combined with $0.10 of restructuring benefit, it enables mid-high teens EPS growth on a conservative 2%-5% organic growth assumption. We take our 2012E EPS from $3.20 to $3.35 and raise our PT."

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 $45.97 yesterday.

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