Veralto price target raised to $117 from $110 at Stifel

Stifel analyst Nathan Jones raised the firm’s price target on Veralto to $117 from $110 and keeps a Buy rating on the shares. The company reported “strong” Q2 results, with gross margins topping 60% again, says the analyst, who argues that consumables revenue growth should be a leading indicator for equipment revenue growth ahead of increasing confidence in the growth outlook.