Nomura Securities Maintains a 'Buy' on Danaher (DHR); Q1 Review

Nomura Securities maintains a 'Buy' on Danaher (NYSE: DHR) price target of $65.00.

Analyst, Shannon O'Callaghan, said, "Danaher delivered a solid $0.03 beat vs. our estimate, driven by 60bps better operating margin vs. our forecast, while organic growth of 1.5% was a little shy of our 2.3% estimate. More importantly, in our view, the company saw sequential improvement within the quarter and expects core growth to accelerate in 2Q to 3%-5%, with China accelerating from flat in 1Q to mid-high single digit growth in 2Q on the back of stronger March orders. This is consistent with our expectation for improving short cycle industrial and discrete automation trends in China heading into the June quarter. Accelerating total company organic growth and China growth, combined with better-than-expected margin improvement and at least $5B of M&A capacity in the next two years, sounds like a good combination to us."

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 $53.00 yesterday.

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