Jefferies analyst Brandon Couillard raised his price target on Waters Corp. (NYSE: WAT) to $105.00 (from $98.00) following Q2 results but maintained a Hold rating.

Couillard comments, "Post WAT's 2Q14 print, we are raising our 2014 & 2015 EPS forecasts to $5.32 (from $5.30) and $5.82 (from $5.80), respectively, which imply expectations for a margin inflection next year after 4 years of erosion. Our PT moves to $105 (from $98) on higher cash flow forecasts."

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Shares of Waters Corp. closed at $107.16 yesterday.