Danaher price target lowered to $260 from $289 at RBC Capital

RBC Capital lowered the firm’s price target on Danaher to $260 from $289 after its Q1 earnings miss but keeps an Outperform rating on the shares. While the company lowered guidance on bioprocessing weakness caused by elevated inventory levels at larger customers and funding issues from smaller emerging biotech customers, Danaher will be a beneficiary of long-term investments by the biopharma industry in emerging therapeutics, the analyst tells investors in a research note.