Danaher Analysts Increase Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Danaher Corporation (NYSE:DHR) exceeded Q4 2023 earnings expectations with an adjusted EPS of $2.09, beating the consensus of $1.89. Sales fell 10% Y/Y to $6.4 billion, surpassing the consensus of $6.09 billion. The company will stop providing guidance for base business core revenue as the pandemic becomes endemic. For Q1 2024, Danaher anticipates a high-single-digit Y/Y decline in non-GAAP core revenue, and a low-single-digit decline for the full year 2024. Following the earnings report, Raymond James and RBC Capital raised their price targets for DHR, maintaining Outperform ratings. DHR shares dropped 1.6% to $241.10.
January 31, 2024 | 4:39 pm
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POSITIVE IMPACT
Danaher reported strong Q4 earnings, surpassing EPS and sales estimates. Analysts raised price targets, signaling confidence despite a share price drop post-earnings.
The positive earnings report and the subsequent increase in price targets by analysts suggest a bullish outlook for Danaher, which could lead to a short-term positive impact on the stock price. However, the actual short-term impact may be tempered by the company's forecast for declining revenue in 2024 and the recent drop in share price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100