Auriga Reiterates a 'Buy' on Waters Corp. (WAT); Unexpectedly High Decline at Big Pharma Drags Down Results
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Price: $406.59 -1.35%
Rating Summary:
22 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
22 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Auriga reiterates a 'Buy' on Waters Corp. (NYSE: WAT) price target of $95.00.
Analyst, Peter McDonald, said, "Yesterday, Waters reported 1Q12 revenues of $420MM (-2%; 0 % org, -2% F/X) and non-GAAP EPS of $1. 00 (+13% Y/Y), both were well below both our estimates and consensus. WAT had no organic revenue growth (versus our 5% estimate) as tough Y/Y comparisons, weakness in India and among large pharma customers weighed (down double digits)."
"Management noted the second quarter was off to a good start, but stressed it is still early days. Overall, WAT's refreshed product portfolio, expanding menu of application specific products and steady consumable demand (+7%) should provide support. While WAT will likely be in the penalty box given the magnitude of the miss, WAT has a very attractive franchise with strong cash flow generation and is competitively well positioned."
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 $81.80 yesterday.
Analyst, Peter McDonald, said, "Yesterday, Waters reported 1Q12 revenues of $420MM (-2%; 0 % org, -2% F/X) and non-GAAP EPS of $1. 00 (+13% Y/Y), both were well below both our estimates and consensus. WAT had no organic revenue growth (versus our 5% estimate) as tough Y/Y comparisons, weakness in India and among large pharma customers weighed (down double digits)."
"Management noted the second quarter was off to a good start, but stressed it is still early days. Overall, WAT's refreshed product portfolio, expanding menu of application specific products and steady consumable demand (+7%) should provide support. While WAT will likely be in the penalty box given the magnitude of the miss, WAT has a very attractive franchise with strong cash flow generation and is competitively well positioned."
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 $81.80 yesterday.
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