HSBC analyst Rajesh Kumar upgraded Danaher to Buy from Hold with a price target of $280, up from $250. HSBC’s supply chain analysis suggests the de-stocking effects as well as order books might be on a recovery path for the life sciences tools sector, the analyst tells investors in a research note. The firm also believes the “geopolitical divide” of biotech funding around the U.S. Biosecure Act might result in a better pricing environment for outsourcers, potentially supporting incremental margins and multiples. It upgrades Danaher as a “quality proxy for the Biotech funding recovery.”
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