Danaher downgraded to Neutral from Outperform at Credit Suisse

Credit Suisse analyst Dan Leonard downgraded Danaher to Neutral from Outperform with a price target of $300, down from $315. The analyst believes the company’s relative exposure to bioprocessing inventory reductions and diagnostics could pressure its growth relative to peers. Danaher has reduced its near-term growth expectations for its Bioprocess business, and inventory burn could continue throughout 2023 before normalizing, Leonard tells investors in a research note. While the analyst believes Danaher’s molecular diagnostics business is a long-term beneficiary from the pandemic, he sees "several tempering considerations."