Waters downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Vijay Kumar downgraded Waters (WAT) to In Line from Outperform with a price target of $270, down from $285. All of the life science tools companies who have reported Q2 results so far this earnings season have missed and lowered guidance and the analyst is assuming Waters and Agilent (A) could see a similar cut to revenue given both have meaningful exposure to China and biopharma, the analyst tells investors.