Morgan Stanley analyst David Lewis initiated coverage of Envista (NVST), a spinoff of Danaher's (DHR) Dental segment, with an Equal Weight rating and $29 price target. Growth slowed from 2% to flat and margins compressed over the past three years as the company invested in innovation and while channel stabilization and new product launches provide a path to accelerate growth and expand margins, he thinks the stock's current valuation reflects some acceleration, Lewis tells investors.
Baird raised the firm's price target on Danaher to $271 from $259 and keeps an Outperform rating on the shares. The firm said they reported 1Q results above expectations, helped by respiratory testing and bioprocessing upside. The company saw encouraging bioprocessing trends, with orders growing mid-single-digits, and noted normalization of large customer ordering patterns, with management expecting destocking to be largely complete by 2Q24-end.
Barclays raised the firm's price target on Danaher to $270 from $260 and keeps an Equal Weight rating on the shares post the Q1 report. The company's orders came in above expectations, the analyst tells investors in a research note. The firm says bioprocessing names continue to be favored by investors and that it does not see this changing in the near term.
Notable gainers among liquid option names this morning include Globe Life (GL) $71.33 +4.94, Super Micro (SMCI) $764.85 +47.83, Danaher (DHR) $250.88 +14.79, Kimberly Clark (KMB) $136.87 +7.94, and General Motors (GM) $45.38 +2.17.
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here