KeyBanc Upgrades Waters Corp. (WAT) to Overweight

KeyBanc analyst Paul Knight upgraded Waters Corp. (NYSE: WAT) from Sector Weight to Overweight with a price target of $460.00.

The analyst comments: "Building upon the themes discussed at its Investor Day, we recently visited WAT in Cambridge, MA and came away with increased confidence that the Company's exposure to pharma/biotech manufacturing can drive outperformance relative to peers. As a reminder, WAT is guiding to organic growth (in CC) of 4.5-7.0% in 2025 (vs. LSD-MSD for peers), with a long-term target of growing HSD (HSD+ during upgrade cycles). While the 2023 acquisition of Wyatt Technology (whose instruments are used for characterization of biologics) is one factor contributing to this growth, we note that Wyatt is just one part of the biologics portfolio, which now represents ~35% of Pharmaceutical revenue for the Company. Importantly, WAT also enjoys a strong position in QA/QC for biopharma and GLP-1s."

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 $362.16 yesterday.

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