Danaher Bears The Brunt Of Macro Woes: Analyst Flags Lower Demand, Reduced Funding & Weakness In China
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Paul Knight has reiterated the Overweight rating on Danaher Corporation (DHR), but lowered the price target to $300 from $325. The life science tools sector, including DHR, has been underperforming in FY23 due to reduced demand and funding for early-stage biotech customers. However, Knight notes that Danaher has a high-growth and high-margin profile following the Veralto spin. The analyst estimates Danaher will post ~$28.7 billion of revenue in FY23, representing a 9.3% organic decline, or 0.6% growth excluding COVID-19 headwinds.
September 27, 2023 | 7:37 pm
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NEGATIVE IMPACT
Danaher Corporation's price target has been lowered by KeyBanc analyst due to underperformance in the life science tools sector.
The lowered price target by KeyBanc analyst indicates a bearish outlook for Danaher Corporation in the short term. This is due to the underperformance in the life science tools sector, reduced demand and funding for early-stage biotech customers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Abcam Plc is mentioned in relation to Danaher's core life science research product offering.
Abcam Plc is mentioned in relation to Danaher's core life science research product offering. However, there is no direct impact on the company's stock from this news.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Thermo Fisher Scientific Inc is mentioned as a point of reference by the KeyBanc analyst.
Thermo Fisher Scientific Inc is mentioned as a point of reference by the KeyBanc analyst. However, there is no direct impact on the company's stock from this news.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50