Veralto initiated with a Neutral at Citi

Citi analyst Andrew Kaplowitz initiated coverage of Veralto with a Neutral rating and $87 price target. The company benefits from a “solid framework for steady compounding earnings growth and shareholder value creation over time,” the analyst tells investors in a research note. That said, softer demand trends across portions of Veralto’s portfolio may mute growth in the near-term, says the firm.