SVB Securities bullish on Danaher, initiates with an Outperform

As previously reported, SVB Securities analyst Puneet Souda initiated coverage of Danaher with an Outperform rating and $300 price target. The firm sees Danaher as the most meaningful mega-cap long for 2023-2024 among the life science tools universe with its guide now fully reset on the most attractive, spec’d-in and recurring revenues market of bioprocess tools. Despite the near-term growth contraction that is already baked in, SVB believes Danaher’s scale, diversification, its DBS process, leading profitability profile and $25B dry powder for M&A, combined with the best-in-class or near-best-in-class businesses, set the stage for outperformance for years to come.