Nomura Securities Maintains a 'Buy' on Danaher (DHR); Adjusting Estimates on Q2 Review

Nomura Securities maintains a 'Buy' on Danaher (NYSE: DHR) price target of $64.00 (from $63.00).

Analyst, Shannon O'Callaghan, said, "2012 EPS guidance lowered to $3.19-$3.26 (vs. prior $3.25-$3.35) driven by FX and restructuring plus lower organic growth. Organic growth now guided to lower end of original 2-5% range with lack of recovery in T&M/Motion/China the driver. Free cash flow was very strong at $1.31/share in 2Q ($2.05 for 1H12), acquisition firepower is $5B over next two years, and management sounds active on the M&A front. Ramped restructuring in 2012 expected to deliver $0.08 of savings in 2013. 2013 could see a combination of restructuring savings, acquisition accretion, and an easy organic comp. We take 2012E/13E EPS estimates down to $3.25/$3.70."

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 $51.12 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Travel Food Services (TRAVELFO:IN) PT Raised to INR1,600 at ICICI Securities
• Stantec Inc. (STN:CN) (STN) PT Lowered to Cdn$169 at Desjardins