UPDATE: UBS Starts Waters Corp. (WAT) at Neutral

UBS analyst Elizabeth Garcia initiates coverage on Waters Corp. (NYSE: WAT) with a Neutral rating and a price target of $349.00.

The analyst comments "We initiate coverage of WAT with a Neutral rating and price target of $349. The company has now seen multiple quarters of momentum in its turnaround story, and while we believe it has runway to continue share recapture over the medium term, this is a largely expected phenomenon. We forecast WAT accelerating organic revenue growth to the ~6% range for the upcoming two years, leaving us virtually flat with consensus in 2022E-2023E and within a point of consensus for 2024E. Its outsized exposure to small molecule pharma provides higher visibility for the company's trajectory relative to peers since it is not a significant producer of COVID-19 vaccines."

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 $330.76 yesterday.

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