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Danaher downgraded to Neutral from Outperform at Credit Suisse
The Fly

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."

Published first on TheFly

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