Veralto price target raised to $101 from $97 at BMO Capital

BMO Capital analyst John McNulty raised the firm’s price target on Veralto to $101 from $97 and keeps an Outperform rating on the shares. The company beat Q1 estimates, but its Q2 conservative guide appears to have shaken investor confidence, the analyst tells investors in a research note. Given the seasonality of the Water business however and the green shoots in the PQI segment, Veralto’s Q2 and FY24 guide are likely “conservative”, the firm added.