Analyst Daniel Brennan of TD Cowen maintained a Hold rating on Waters, boosting the price target to $390.00.
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Daniel Brennan has given his Hold rating due to a combination of factors that reflect both optimism and caution. The recent rally in Waters’s stock, driven by positive third-quarter results and an encouraging outlook for 2026, suggests strong growth potential. However, the fourth-quarter guidance remains conservative, indicating potential challenges in the short term, such as a flat chemistry segment and a smaller-than-usual instrument ramp.
Despite the company’s strategic initiatives, including new product launches and a focus on expanding in China, the current stock valuation already reflects these positive developments. The price target was increased to $390, but the Hold rating is maintained as the recent stock performance suggests that the improved market conditions and solid execution are already priced in. Brennan’s analysis suggests a balanced view, recognizing the company’s growth drivers while acknowledging the current valuation limits immediate upside potential.
In another report released yesterday, Bank of America Securities also maintained a Hold rating on the stock with a $375.00 price target.