Danaher's Spun-Off Company Veralto Can Grow Via M&A: Analyst
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Deane Dray initiated coverage on Veralto Corp (VLTO) with a Sector Perform rating and a price target of $78.00. Veralto, which separated from Danaher Corp (DHR) and began trading on the NYSE in October, reported Q3 FY23 adjusted EPS of $0.75, beating the consensus of $0.70, and revenue of $1.255 billion, exceeding the estimate of $1.205 billion. The analyst suggests that Veralto needs M&A to bolster growth.
November 03, 2023 | 7:29 pm
News sentiment analysis
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NEUTRAL IMPACT
Veralto Corp (VLTO), which separated from Danaher Corp (DHR) and began trading on the NYSE in October, has been initiated with a Sector Perform rating by RBC Capital Markets analyst Deane Dray.
While the news is primarily about Veralto, it also indirectly affects Danaher as Veralto is a spin-off from the company. However, the impact is likely to be neutral as the news does not directly pertain to Danaher's operations or performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Veralto Corp (VLTO) has been initiated with a Sector Perform rating and a price target of $78.00 by RBC Capital Markets analyst Deane Dray. The company's Q3 FY23 results exceeded expectations.
The initiation of coverage by a major analyst and the setting of a price target can have a positive impact on a stock. Additionally, Veralto's strong Q3 FY23 results could also boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100