Danaher Lifts 4Q Sales Growth Outlook; Street Stays Bullish
Danaher Corp. raised its revenue growth guidance for 4Q. The conglomerate is scheduled to announce its 4Q results on Jan. 28.
Danaher (DHR) expects 4Q core revenue to increase by about 38.5% year-over-year, including 15% sales growth from its Cytiva business. Notably, during 3Q, the company had forecasted 4Q core revenue growth in the low-double-digit range.
The company said that higher sales growth than previously expected was fueled by improved performance in its life sciences and diagnostics segments. (See DHR stock analysis on TipRanks)
Earlier on Jan. 4, Evercore ISI analyst Vijay Kumar maintained a Buy rating and a price target of $270 (12.2% upside potential) on the stock. The analyst said that Danaher remains his top pick citing the company’s strong execution and its potential for mergers and acquisitions.
From the rest of the Street, the stock scores a bullish Strong Buy analyst consensus, which is based on 9 Buys versus only 1 Hold. The average analyst price target of $263.3 implies upside potential of about 9.4% to current levels. Shares have gained 52.9% in one year.
Furthermore, the stock has a bullish call from financial bloggers.
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