Danaher price target lowered to $240 from $250 at Stifel

Stifel analyst Daniel Arias lowered the firm’s price target on Danaher to $240 from $250 and keeps a Hold rating on the shares. Core revenues came in below expectations while the company made “a healthy cut” to its 2023 guidance as Biotech segment trends continue to soften, says the analyst, who adds that the “glass-half-full” point of view says that management has “now truly cleared the deck,” while the “half-empty” view focuses on a deteriorating backdrop. Valuation is “looking more full than we had envisioned it being at this point in the demand recovery process,” the analyst added.