Veralto price target lowered to $79 from $82 at Baird

Baird analyst Michael Halloran lowered the firm’s price target on Veralto to $79 from $82 and keeps a Neutral rating on the shares. The company’s Q3 results were ahead of limited consensus expectations as sales in both segments proved better than expected, more than offsetting lower margin levels, the analyst tells investors in a research note. Veralto should be able to grow organically in 2024 in a tepid environment, though headwinds for the company linger, the firm stated, adding that the stock also appears to be fairly valued at current levels.