Veralto initiated with a Buy at Jefferies

Jefferies initiated coverage of Veralto (VLTO) with a Buy rating and $125 price target The firm sees a recovery in manufacturing sentiment, bolstered by the potential for lower interest rates, reduced corporate taxes, and deregulation. In the context of this view, the analyst says Veralto is a best-in-class industrial with gross margins at about 60% and the ability to compound earnings through organic growth and capital deployment.