Veralto upgraded to Buy from Hold at Vertical Research

Vertical Research upgraded Veralto to Buy from Hold with an $82 price target. The analyst believes Veralto’s gross margins in the mid-high 50%s and recurring revenues that are approaching 60% “will support a structurally high relative valuation.” The firm says the shares “are now in a more appropriate place” given uncertainties about end markets and the pace of capital deployment.