UBS Maintains a 'Neutral' on Waters Corp. (WAT); Positive Trends Overall, Academic & Industrial Remain the Concerns

UBS maintains a 'Neutral' on Waters Corp. (NYSE: WAT) price target raised from $85 to $90.

UBS analyst says, "During the qtr, instrument and consumables in the Waters Div. grew 7%, while TA was up 17%. Growth was particularly strong in Europe (+14%) on pharma & chemical analysis demand, with the US up 8% & China flat on a +30% comp. System placements to academic/govt labs “held up reasonably well”. Going fwd, mgmt sees softer spending by global academic & W. Europe industrial accts, but WAT should continue to benefit from H-Class momentum and an ongoing instrument replacement cycle in pharma, as well as solid applied mkt demand."

"We see ‘11-12 sales of $1,955M (+5.5%; 7% org) & $2,084M, respectively, & EPS of $5.25 (was $5.30) & $5.96 (was $6.00).

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 $85.04 yesterday.

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